Khing Oei

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@khingoei

Founder & CEO @Treasury_BTC. Chair @cypherpunk. Ex Hedge Fund Founder/CIO, @GoldmanSachs, Fortress

treasury-btc.com Joined April 2011

1.8K Following 13K Followers 1.9K Posts

Latest posts 5

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Khing Oei @khingoei Aug 20

My first post ever was TradFi colliding with Bitcoin – eight years later I'm building a company at the same intersection.

Weight Watchers has since been through Chapter 11. JPMorgan now accepts Bitcoin as loan collateral.

The Overweight went on the wrong name.

Khing Oei Verified account @khingoei Jun 12, 2018

JP Morgan initiated coverage of Weight Watchers with an ‘Overweight’ rating. At least they didn’t lose their sense of humor after backtracking on calling bitcoin a ‘fraud’. #bitcoin #BTC
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Khing Oei @khingoei 6h

This is the slide I think sent the strongest Bitcoin message to the institutional audience in the room.

Strategy's adoption index for Bitcoin services across the top 25 global banks went from 9% in December 2023 to 34% in October 2026. A bank that custodies and lends against Bitcoin can distribute Bitcoin-backed credit next.

Michael Saylor Verified account @saylor 7h

On Wednesday at @Official_Cantor Convergence, I discussed how bank adoption could drive Bitcoin’s next bull market and how Strategy transforms Digital Capital into Digital Credit and Digital Equity.

00:23 - Bitcoin’s next bull market: bank adoption, macro tailwinds, and regulatory support
09:41 - AI disruption, Bitcoin scarcity, and the future of Digital Capital
11:55 - Engineering Digital Credit: $STRC, daily dividends, and volatility management
15:20 - Digital Credit as an alloy of Bitcoin and USD; a $16B emerging market
19:09 - Strategy’s capital framework, BTC Hurdle, BTC Breakeven, BTC Floor ARR, and Digital Credit risk modeling
24:38 - $STRC liquidity, institutional adoption, and tokenization
27:17 - $MSTR as Digital Equity: transforming Bitcoin performance into shareholder value
30:44 - Bitcoin Per Share, Strategy’s capital flywheel, and scaling Digital Credit
34:02 - Digital Money, Strategy’s ambition, and the $300T credit market opportunity

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Khing Oei @khingoei 1d

Bitcoin lost 16% in a month and touched its 200-week average on Friday. $STRC closed the week at $99.91.

30-day volatility is 8.1% for the preferred and 72.2% for $MSTR common, on the same balance sheet.

A 12% dividend and a BTC Rating of 5.2x kept the volatility in the common equity, as it's supposed to.

Khing Oei @khingoei 2d

$NVDA traded $134B in a single session on Thursday.

Every European stock on every European venue trades about €54B on an average day. One US stock did roughly twice that, with the bulls and the bears fighting it out in the world’s most liquid market.

Liquidity follows volatility, and Europe's equity market offers little of either. Yet another product-market fit for an institutionally investable, euro-denominated Bitcoin treasury listed on a primary European exchange.

Khing Oei @khingoei 3d

MSCI confirmed today that @Strategy and @Metaplanet leave its indexes at the November 30 close, classified as non-operating companies.

The forced selling is small. By Strategy’s own consultation response, MSCI-linked funds hold about 13 million shares, 3.1% of the basic share count and less than one day’s trading volume.

The non-operating label has a history. For roughly two decades S&P kept REITs out of the S&P 500 as passive investment vehicles. On October 3, 2001 it reversed, concluding that REITs had become operating companies, and Equity Office Properties replaced Texaco in the index six days later.

Often things in TradFi just take time but are inevitable.