Trending Portfolios: Unr. Losses Snapshot of unrealized PnL across trending crypto portfolios and entities holding (BTC, ETH, and others) based on their average buy prices, except Vitalik Buterin & Murad. Source: DropsTab(.)com Strategy -$5,946,571,731 -10.84% ▼ Current Balance: $48.38B 📈 Bitmine -$7,952,629,179 -48.51% ▼ Current Balance: $8.44B 📈 Trump Media -$473,615,198 -37.77% ▼ Current Balance: $780M 🔶 Cypherpunk -$14,150,230 -21.27% ▼ Current Balance: $53.5M ❓ Vitalik Buterin -$350,305,848 -42.43% ▼ (3mo) Current Balance: $477M 🔵 Tron Ink. -$22,216,7914 -10.52% ▼ Current Balance: $188M 🔴 Murad -$12,749,490 -57.57% ▼ (3mo) Current Balance: $9.43M CZ -$826,957.25 -42.86% ▼ Current Balance: $1.08M 🔶

Not a single company in the $SP500 understands they’re competing against $MSTR to accumulate as much $bitcoin as possible. I’m clinically retarded and I understand this. It unbelievable.

This chart compares a tax-equivalent, structurally engineered instrument to senior, regulated credit as if they are the same thing. They are not. STRC’s headline number is not a market yield, it is a hypothetical tax-adjusted figure that assumes specific tax treatment, continued structural stability, and favourable Bitcoin conditions. Remove the tax-equivalent framing and the outperformance largely disappears. More importantly, there is no risk-adjusted comparison here: no drawdown analysis, no stress testing, no Bitcoin volatility scenario, no refinancing risk, no duration comparison. Traditional credit is senior, liquid, regulated, and historically stable. STRC is leveraged, structure-dependent, and ultimately tied to Bitcoin volatility and Strategy’s balance sheet. Saying “digital credit outperforms conventional credit” without equalising risk is marketing, not analysis.

IMO big money is too invested in BTC to let it stay below MSTR 1:1 NAV for too long. We shall see. If I'm wrong it will be quite bad for crypto, so even if you don't own BTC you will be impacted.