Zynx

If $MSTR and $ASST can generate meaningful cash flow that isn't correlated with Bitcoin, they can move to a whole new level.

Right now, both are valued almost entirely on mNAV. The market treats them as a premium or discount to the Bitcoin they hold and that premium swings with sentiment.

Earnings can change that. A company with real, recurring cash flow gets valued on those earnings as well as assets. That's how Berkshire Hathaway is valued and it's why the best financial companies trade at large multiples for decades.

Both are already heading in that direction. Strategy is building out as a Bitcoin bank. Strive is evaluating banking, brokerage and reinsurance.

Moving away from pure mNAV valuations would be better for the companies and shareholders alike. It means steadier premiums and far greater upside in the long run.

A growing Bitcoin balance sheet plus uncorrelated cash flow is the endgame.

Wanna know a secret?

If you want to talk stocks on X and be popular, you should never criticise or give negative analysis on any particular company.

The Metaplanet fiasco was the watershed moment for me.

What I saw as clear-cut wrongdoing was met with silence from most of the big accounts in the Bitcoin space.

Meanwhile, those of us who called it out now have a lifetime of trolls and constant abuse from shareholders of said company.

Do that for a few companies and you end up building an army of angry shareholders who hate you.

I get it, in a way. As to why the big accounts stay silent.

The more popular you are, the more money you make. Pretty simple.

In hindsight, would I have done things differently? No.

However, it's fascinating to watch this play out and I question the integrity of much of the analysis put out by some of these accounts.

I can only imagine how difficult it gets if you are public and going to events, or have sponsors. You are effectively silenced.

I decided long ago that I'd rather say what I truly think than be popular.

This has aged incredibly well.

For almost 6 months, I have been calling for Strategy to raise $STRC's yield.

It has also been almost 6 months since it last closed at par.

Not a coincidence.

It's looking good for $ASST shareholders.

The share price is down, but that is a direct consequence of Bitcoin's price action.

Meanwhile, $SATA and $SATS are trading incredibly well.

Once Bitcoin stabilises, these products will be printing capital for Strive.

Bullish.

Whatever the price, there is no asset I would rather trust with my wealth than Bitcoin.

When doubt creeps in, there is only one cure.

Go back to the network.

Ignore the charts, the narratives and the noise.

Send a transaction.

Feel what it means to move value across the world without asking anyone for permission.

Nothing else comes close.

It's truly beautiful.