Auspicious
.
Risk free rate
4.8% SULFUR
3.2% after taxes
Risk free rate
60% a year
.
29% tax deferred gain over 21 years ,,, after tax, risk adjusted
60% ARR, kind of dilutive and distracting
Just buy Bitcoin and hold it!
*
Best ideas built on Bitcoin!
I want Better than 29%, can you get 15 year loan for 6%, invest
Long term debt!
20:1 lever in volatility stupid leverage
.
Smart leverage
Sophisticated ideas
Leverage
Equity
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Mortgage your house! Borrow 2.7% in 30 years … most intelligent thing you could have done!
Sell bitcoin to pay off 3% mortgage?
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Debt inflated away
.
20% levered
$200,000
.
Borrow 1% interest , 200k for 5-10 years not bad ideas
The cost to debt is free
.
Sources of cheap debt cheap interest rates cheap capital
1 page 8k
Get through 2 paragraphs
20 pages of investment filings
.
Bitcoin cold storage 30 years go to sleep
Investor , public company investor ..
More risk do it because you expect more reward! ***
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Your job — invest in public companies
Illegal to buy the Bitcoin! ***->
.
Run a hedge fund!
Unlikely your company grow over 60% year, 29% over 21 years possible
Built on a capital market of Bitcoin
BTC Bitcoin for photographers
Swamp water, pump mud
.
Miniaturization
Positively polarized to capital
Slurp all the capital!
100x your company
.
1000x opportunity! ***
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Soon, just necessary…
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Next 4 years is an extraordinary opportunity!
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4 year window
Offer a hedge ***
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Strategic advantage
.
Repulsive or attractive?
Attractive or repulsive to capital.?
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Attract, attractive
Increases !
Attractive vs Repulsive ***
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Repulsive or attractive to capital
Burn coal in stove or wood in stove or nuclear reactor?
It’s just better technology!
Crypto reactor bitcoin as fuel or wood burning stove, stinks up the house choking fumes
Chop down the village with wood burning stoves?
.
Change over time?
.
More optionality, more volatility?
How to increase volatility?
Engineer, engineered different —
.
65 year old conductors not Led Zeppelin electric guitar, 16 year olds
.
Growing or dying?
.