It might not feel like it but another day of progress has been made. More long term / low time preference thinkers have had chance to continue to DCA at these Bitcoin price levels. More long term / low time preference thinkers have had chance to continue to DCA $SWC shares at these levels. More leveraged longs have been liquidated with the next significant cluster of liquidity down back around the $60k level. Also, we’ve very often seen Bitcoin bottom within the first 10 days of the month on many occasions over the last 18 months. We’re close to 500 days before the next halving for any of the “buy 500 days before and sell 500 days after” followers. We’ve had an extraordinary number of black swan headwind headlines. And quietly the STRC / MSTR pair has continued to show great strength since the mid September lows (image below). We’ve never had a bull run with Digital Credit instruments in the market. We’ve never had a bull run with the current level of Bitcoin loan infrastructure in place. We’ve never had a bull run with this level and awareness and accessibility of Bitcoin ETFs. We’ve never had a bull run with this few Bitcoin remaining to be mined. It’s surprising to many how low the current Bitcoin price is after all these years. It will be surprising to many just how high it will go in the coming years. And the well run Bitcoin Treasury Companies with a market leading main market position with a perpetual preferred digital credit product and the law of small numbers on their side? There’s just one that fits that bill. They will be the best positioned to capitalise during the next bull run. Once it gets going I suspect this one will be hard to stop. Onwards! 🚀