{"id":658816,"date":"2025-01-28T09:53:28","date_gmt":"2025-01-28T14:53:28","guid":{"rendered":"https:\/\/erickimphotography.com\/blog\/?p=658816"},"modified":"2025-01-28T09:53:38","modified_gmt":"2025-01-28T14:53:38","slug":"better-to-lie-than-to-tell-the-truth","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2025\/01\/28\/better-to-lie-than-to-tell-the-truth\/","title":{"rendered":"Better to lie than to tell the truth"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Money vs Property?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Interesting idea &#8212; what if you no longer need money, but just care to own property &#8212; Bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">56 times<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin refinery<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Exposure to macro and crypto economies, securities<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike, new capital structure<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lower volatility, lower leverage &#8211;&gt; fixed income<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fixed debt instrument<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oil refinery<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Take crude capital, high performing products<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High performing and volatile stock price<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">112% up a year, past 4 years\u00e2\u20ac\u00a6. almost double Bitcoin!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Outperform Bitcoin with more bitcoin! ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2x performance Bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">63% a year, bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Outperform the Bitcoin ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2000% percent, 2x over Nvidia<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The most volatile stock in SP500 universe!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High volatility, black sholes,,, fed options market<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New type of investor interested in MSTR<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NOVELTY, #6 most optioned stock<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">6 most liquid stock<\/h1>\n\n\n\n<h1 class=\"wp-block-heading\">1 most optioned stock, as percent of market cap, #1 most liquid stock in SP 500 universe!<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Drives open interest, attract new investors<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Largest option interest market<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Option volume<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">20x larger<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Just being a good dad is my new goal!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Volatility drives liquidity<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$81B size of options market!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">29x bigger than MARA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MARA,, only $3b<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Optionality<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR is the benchmark<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike is a convertible preferred stock<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR, the most common stock with the most exposure to BTC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">preferred equity, preferred convertible equity, built on BTC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRK<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High performance levered bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">8% fixed dividend, perpetual uncapped call<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Perpetual dividend<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1000$ strike call on call option, on MSTR<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">anti dilution protection<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRK &#8211;&gt; traded<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike (STRK), microstrategy oriented investors<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Security, less sensitive on upside and downside of BTC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR , more volatility, more leverage<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR. $100b market cap, 684% return, volatility 117%!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How to calculate volatility?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Volatility vs Risk<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can calculate volatility. Not risk?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Things which last forever, high durability but low quality or not useful?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The point of life is adventure,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Buy the dip!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fixed income investors<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">6-7% yield<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High yield corporate bonds<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike , have the yield but upside, crypto curious, want exposure or MSTR<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">hybrid instrument! ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Complementary to convertible bonds<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Convertible bond to capital market , 4 letter ticker, STRK<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STARK<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">225%, 154%. 113%\u00e2\u20ac\u00a6<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">160%, 79%,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRK<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">uncapped call option. $1,000 up forever!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Uncapped ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don\u00e2\u20ac\u2122t we always want to be uncapped?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike instrument<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRK vs MSTR convertibles<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dividend, 8%,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I love performance!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Superior MSTR participation, dividends, liquidity and investor access<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Long term !<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR stock price &#8211;&gt;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Convertible notes<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tenor ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">4-8 years<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hundreds of dollars, $1,000<br>. \u00e2\u20ac\u00a6 $5,000 stock price forever<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$50B bitcoin holdings<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Debt coverage<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$105,000 per Bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$233 , trade down to be out of the money<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">17x coverage!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$20M dividend obligation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pro Forma Value ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strike dividends<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Annual STRK Dividends<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">315 years of strike dividends<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pro Forma Capital Structure<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Equity cushion ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meet liabilities and obligation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin cushion, equity cushion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bare skin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Valuation Framework<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">8% perpetual dividend, perpetual call option on MSTR<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">key value drivers<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BTC coverage, volatility, MSTR price<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Forecast for MSTR stock price, volatility<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The future of Bitcoin, Bitcoin volatility<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strategic part of capital structure<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Convertible bond strategy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Complementary ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Create more intelligent leverage<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Expand access to capital structure to entire Bitcoin ecosystem<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another source of intelligent leverage for MSTR<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">sell additional shares of STRK. via ATM&#8211;&gt; interesting option<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Optionality<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Grow asset<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Price and finalize Thursday<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Too hot! Too much winning!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRK THOUGHTS<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STRIKE THOUGHTS<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">$50B bitcoin holdings<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">56 announcements<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Part of the master plan!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adjust leverage, fund potential dividends<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTX, MSTU<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR OPTIONS?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High volatility, high leverage<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MSTR Equity<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Creating a new ecosystem into yourself?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Energy company<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oil company<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin is the new oil!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More refined, less refined<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Firm yet flexible<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prospect &amp; drill<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More refined, less refined<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">High performing, high volatility<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">112% , 63% BTC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MAT 7, 30%,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Double double double<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Intelligently lever our bitcoin<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How to lever, leverage your bitcoin?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">63% a year<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Outperform the Bitcoin ***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">27x, 4x.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">777% NVIDIA, 7x<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2,761% MSTR, 27x<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">777% BTC, 4 years<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">palantir<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Est\u00c3\u00a9e Lauder<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Factset<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Volatility, novelty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Daily trading volume<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">8.5b, more than Amazon, alphabet, Netflix.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin entertainment &gt; Netflix?***<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin entertainment is the future?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin-powered entertainment, streaming<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">100% vs 32%<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">0.5% vs 5.2%<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Signs?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>. Money vs Property? Interesting idea &#8212; what if you no longer need money, but just care to own property &#8212; Bitcoin . 56 times Bitcoin refinery Exposure to macro and crypto economies, securities . Strike, new capital structure Lower volatility, lower leverage &#8211;&gt; fixed income Fixed debt instrument Oil refinery Take crude capital, high [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17],"tags":[],"class_list":["post-658816","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/658816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=658816"}],"version-history":[{"count":1,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/658816\/revisions"}],"predecessor-version":[{"id":658817,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/658816\/revisions\/658817"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=658816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=658816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=658816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}