Jack Mallers with a banger of a question to Saylor today exposing MSTR mNAV scheme which ignores preferred shares in its calculation. If you sell 11.5% of upside volatility but you have to pay dividends through extended bear markets, how much juice really flows to MSTR class A shareholders? I see how it is better than convertible notes, but I don't see how it works for Class A shareholders long term. I think Strategy's real business will be private Bitcoin monetary networks within a closed UTXO set and they will want nice chunky data blocks to execute their private monetary networks. That's my two beer 🍻 conspiracy theory

KILL TONY #770 Stephen Glenn - Asian Girls - the video is real https://youtu.be/89_4fqLvElY

The wind down from BTC/USD ATH was likely caused by the unwinding of the short MSTR / long BTC pairs trade. When the hedgies had sucked mNAV premium dry, they closed the BTC longs. Great to see Mark Cuban sell. 🤓. We don't want Rachel Maddow lookalikes in bitcoin. Great to see $NAKA fail spectaculaly. David Bailey is a grifter piece of shit. The more people who see that the better. Turns my stomach people associate him with positive contributions to bitcoin.