Chris Millas ✓

[video] $MSTR investors watching the thesis play out after the record $STRC raise last week:

[image] Can we just take a moment to acknowledge something. $STRC has been trading at or above par all week: 1. During a bear market. 2. With Bitcoin down almost 50% from its ATH. 3. When indexes were down on the week. 4. During a full-scale war in the Middle East. 5. $STRC is less

[text] In theory, Strategy can FORCE its own business model to succeed. The reason is ironically simple. Bitcoin has an absolute fixed supply. So every $1 used to BUY Bitcoin does not equate to a $1 increase in the PRICE of Bitcoin. It equates to a DISPROPORTIONATELY larger increase

[image] $BTC is for saving. $MSTR is for investing. $STRC is for earning.

[text] I am fully prepared for $MSTR to go to zero. I am also fully prepared for $MSTR to go to $10T. This is the way.

[image] It is genuinely quite incredible how $STRC has maintained par this week despite the continued hostile macro environment. That is a major signal. We’re literally watching history being made in real-time.

[text] If $MSTR isn’t going to zero, then it’s going to $1T. And if it’s going to $1T, then it’s probably going to $10T.

[image] Here we go. Search queries for $STRC have hit an all-time-high on Google. Are you starting to understand what’s happening?

[text] In 2018, Tesla was the most hated stock on Wall Street. Everyone thought it was going to go bankrupt and that Elon Musk was a fraud. $TSLA is now a +$1T company. In 2026, Strategy is one of the most hated stocks on Wall Street. Everyone thinks it’s going to get liquidated and

[text] I genuinely haven’t come across a SINGLE intelligent bear case for $MSTR. All I’ve seen is an endless number of midcurve, emotionally-driven takes from people who are either trying to look smart, are low IQ or have Saylor Derangement Syndrome. The only genuine threat to the

[image] Let’s put this into perspective. Through $STRC, Strategy was able to raise $377.1M in ONE WEEK and buy Bitcoin: 1. Which increased Bitcoin Per Share by ~0.27%. 2. During a bear market. 3. With Bitcoin down almost 50% from its ATH. 4. When indexes were down on the week. 5.

[image] The big 3 are cooking today.

[text] Imagine you’re a 70-year-old retiree that wants exposure to Bitcoin. Owning spot Bitcoin is probably a BAD idea because of the volatility. Owning a product that strips away the volatility that pays you an 11.25% yield is probably a GOOD idea. That’s what $STRC is. And that’s

[text] Strategy is going to be the ONLY public company to ever reach 2 Nakamotos.

[image] Weekly ATM proceeds. $STRF: $0M $STRK: $0M $STRD: $0M $STRC: $78.4M $MSTR: $90.5M

[image] $STRC continues to set ATH's for global Google searches.

[text] If you haven’t spent AT LEAST 100 hours studying $MSTR then your opinion is irrelevant.

[image] $MSTR is a triple IQ test. First you need to understand money. Second you need to understand Bitcoin. Third you need to understand Strategy.

[text] $MSTR bears have gone from: “There's no demand for $STRC.” To: “There's no demand for the prefs apart from $STRC.” This tells you everything you need to know.

[image] Strategy is building a Bitcoin-backed empire that is uniquely positioning it to dominate the fixed income market for decades to come. At today’s price, the company represents a highly asymmetric opportunity. Here's my updated $MSTR thesis following the 2025 Q4 earnings,

[text] If you think Strategy is going to fail, then you essentially believe one or both of two things: 1. Bitcoin will fall greater than 90% at some point. 2. Bitcoin won’t compound at a minimum of 2% per year from here on over the long-term.

[image] What do you notice? $MSTR $STRC

[text] You always see people criticise Strategy for buying the Bitcoin top at $70K, $80K, $90K etc. You never see people criticising Strategy for buying the Bitcoin top at $10K, $20K, $30K etc. Lesson in there.

[image] As things stand: → BlackRock holds 786,329 BTC. → Strategy holds 761,068 BTC. The gap is 25,261 BTC. Strategy is about to become the LARGEST single holder of Bitcoin on the planet.