Group 1: Bitcoin-linked Equities Performance - Bitcoin-linked equities experienced a decline as Bitcoin dropped below $100,000, trading at $96,485, down 4% [1] - Among the companies, Nakamoto Holdings (NAKA) fell the most at 6%, while Strategy (MSTR) and Strive (ASST) decreased by 4% and 2% respectively [1] Group 2: Nakamoto Holdings (NAKA) Analysis - NAKA's stock has faced significant selling pressure, with a 94% drop since July 1 and a 44% decline year-to-date as of mid-October [2] - The selloff was attributed to a $5 billion at-the-market equity offering, a $30 million investment in Metaplanet (MPTLF), and insider sales following the expiration of PIPE lock-ups [2] Group 3: Strategy (MSTR) Developments - Strategy has been recognized as a bellwether for the industry, recently receiving a B- issuer credit rating from S&P, which is expected to open new credit markets for the firm as it continues to purchase Bitcoin [3] Group 4: Strive (ASST) Capital Expansion - Strive is working to expand its capital base after completing a $149.3 million oversubscribed SATA initial public offering [4] - Despite a 76% decline over the last 6 months, Strive's stock remains up 131% year-to-date [4]

Market Overview - As of late November 13, the market values of bitcoin and gold were approximately $2 trillion and $29 trillion respectively, indicating that bitcoin would require a significant long-term rally to close the gap with gold [1] - Gold ETFs have recently outperformed funds like the CoinShares Valkyrie Bitcoin Fund (BRRR), leading some investors to favor traditional gold over digital gold [2] Bitcoin's Future Potential - Michael Saylor, CEO of Strategy (MSTR), predicts that by 2035, bitcoin could surpass gold in value, suggesting a potential 14-fold increase from current levels, which would greatly benefit investors in ETFs like BRRR [3][6] - Saylor's bullish outlook follows a correction in bitcoin prices and related assets since mid-October, with significant unwinding of leveraged positions in the crypto derivatives market [5] Investment Implications - If Saylor's prediction holds true, bitcoin would need to reach $1.4 million to exceed gold's market capitalization, representing a substantial increase. Even a scenario where bitcoin reaches half of gold's market value would still yield significant rewards for long-term BRRR investors [6] - Strategy has recently increased its bitcoin holdings by acquiring an additional 487 bitcoins, now owning 3% of the total circulating supply, demonstrating the company's commitment to the digital currency [7]

Core Viewpoint - The current price of Bitcoin is $94,632, and there is speculation about its potential to reach $150,000 by the end of the year, despite recent volatility in the crypto market [1][2]. Price Movements and Historical Context - Over the past five years, Bitcoin has experienced significant drawdowns but has averaged a 50% annual increase, with notable price movements from $55,000 to $94,000 over 14 months [3][4]. - The price surged from $68,000 to $106,000 in just five weeks following the Trump election [3]. Investment Strategy and Market Outlook - The company believes that Bitcoin will outperform gold and the S&P 500, positioning it as a form of digital capital [6]. - A strong support base has been established around the current price level, and the company anticipates a rally from this point [5][6]. - The company maintains a low leverage ratio of 1.15% and is well-collateralized, indicating a stable balance sheet even in the event of significant price drops [7][8]. Long-term Investment Perspective - The company advocates for a long-term investment horizon of at least four years for Bitcoin investors, emphasizing the importance of being prepared for market volatility [4][15]. - The company has been actively purchasing Bitcoin, owning nearly 3.1% of the network at an average price of $74,000 per coin [14][13]. Digital Assets Economy - The digital assets economy is expanding, with Bitcoin being viewed as digital gold and a key component of digital capital [11]. - The emergence of stable coins and digital finance is seen as complementary rather than competitive to Bitcoin, which remains a preferred asset for long-term investors [10][12]. Investment Recommendations - For investors with a time horizon of four years or longer, Bitcoin is recommended as a primary investment, while those looking for shorter-term gains should consider digital credit instruments that mitigate volatility [15][16].

Core Viewpoint - Cryptocurrency-related stocks experienced a significant decline in pre-market trading, reflecting broader market concerns over the recent drop in Bitcoin and Ethereum prices [1] Group 1: Market Performance - IREN Ltd (IREN.US) and Cipher Mining (CIFR.US) both fell over 8% [1] - CleanSpark (CLSK.US) dropped more than 7% [1] - Strategy (MSTR.US) and Robinhood (HOOD.US) saw declines exceeding 5% [1] Group 2: Cryptocurrency Price Movements - Bitcoin's price fell over 4%, dropping below $96,000, with a 24-hour decline of 6.65% [1] - Ethereum experienced a decline of over 3%, falling below $3,200, with a nearly 9% drop in the past 24 hours [1]

Core Viewpoint - Cryptocurrency-related stocks experienced a significant decline in pre-market trading, reflecting a broader downturn in the cryptocurrency market [1] Group 1: Stock Performance - IREN Ltd (IREN.US) and Cipher Mining (CIFR.US) both fell over 8% [1] - CleanSpark (CLSK.US) dropped more than 7% [1] - Strategy (MSTR.US) and Robinhood (HOOD.US) saw declines exceeding 5% [1] Group 2: Cryptocurrency Market - Bitcoin plummeted over 4%, falling below $96,000, with a 24-hour drop of 6.65% [1] - Ethereum experienced a decline of more than 3%, dropping below $3,200, with a nearly 9% crash in the past 24 hours [1]

Core Insights - The article discusses the author's transition to independent investment research after over 43 years in the industry, emphasizing a focus on actionable investment insights rather than adhering to external agendas [1] - The author highlights a unique approach to equity investing that combines quantitative analysis with fundamental theories, aiming to uncover the true story behind companies and their stocks [1] Group 1: Investment Philosophy - The author specializes in rules/factor-based equity investing strategies but prioritizes human intelligence over pure quantitative methods, using numbers to inspire investment narratives [1] - Emphasis is placed on the importance of understanding the future potential of investments rather than solely relying on historical data [1] Group 2: Professional Background - The author has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and income [1] - Previous roles include managing a high-yield fixed-income fund and conducting research on quantitative asset allocation strategies, contributing to the development of Robo Advising [1] Group 3: Educational Contributions - The author has a passion for investor education, having conducted numerous seminars and authored two books on stock selection and analysis [1] - The article indicates a commitment to engaging with the audience and receiving feedback on the insights provided [1]

Saylor literally moving coins to a coinbase custodial walletWhat a bad engagement farming tweet by a breaking news account*Walter Bloomberg (@DeItaone):$MSTR - ARKHAM: SAYLOR’S STRATEGY CUTS BITCOIN HOLDINGS BY 47KArkham data shows Michael Saylor’s Strategy (MSTR) reduced its Bitcoin holdings from 484,000 to about 437,000, a drop of roughly 47,000 BTC. It’s unclear whether this came from transfers or sales. This is the first ...

Core Insights - The MSTR stock price has significantly declined this year, dropping from a year-to-date high of $456 to $208 [1] - This decline has resulted in a substantial market capitalization loss of $60 billion, with the company's market cap decreasing from over $128 billion [1]

RT Clemente (@Chilearmy123)I DEMAND A REFUND @saylor$MSTR https://t.co/Gk1EHTaqy9 ...

Core Insights - Bitcoin recently reached a record high of $126,000 but has since pulled back, leading to discussions about investor confidence in the cryptocurrency market [1] - The market has seen a surge in companies adding Bitcoin to their balance sheets, with significant improvements in accounting, tax regimes, and regulatory support [1][2] - The introduction of various financial instruments allows investors to engage with the digital asset market according to their risk tolerance and investment horizon [1][2] Investment Strategies - Investors seeking maximum performance must be prepared for high volatility, with strategies like MSTR showing a 75% average annual return over the last five years [1] - For those preferring lower volatility, credit instruments like STRC offer a stable yield of around 10% with tax deferral benefits, making them attractive alternatives [1][2] - The digital credit market has evolved significantly, with nearly $8 billion issued, providing a tax-equivalent yield four times higher than traditional bank credit [2] Market Dynamics - The digital asset market is evolving, with Bitcoin's market cap expected to surpass gold's by 2035, as only 1% of Bitcoin will remain to be mined after that year [8] - The recent government shutdown has not diminished confidence in the U.S. economy, but it has highlighted the appeal of Bitcoin as a stable asset amid economic uncertainty [2] - The energy sector is undergoing a transformation, with renewed interest in nuclear and natural gas power generation to meet the demands of cryptocurrency mining [3] Technological Advancements - The integration of AI in financial engineering has led to the creation of innovative securities, such as STRC, which has been described as the most successful preferred stock in recent history [3] - Continuous upgrades in hardware and software supporting Bitcoin's protocol are expected to enhance its security and efficiency, mitigating concerns about obsolescence [2][3] Investor Considerations - Investors are encouraged to assess their time horizons and risk tolerance when choosing between direct Bitcoin investment, ETFs, or equity in companies like MSTR that focus on digital credit [10][12] - The current market sentiment is viewed as a potential opportunity for equity investors who can make informed decisions based on improved fundamentals in the digital asset space [1][2]