# ![@ByteSideQuest Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1960638564737376256.png) @ByteSideQuest Byte

Byte posts on X about bitcoin, $xxi, business, company the most. They currently have [---] followers and [---] posts still getting attention that total [---] engagements in the last [--] hours.

### Engagements: [---] [#](/creator/twitter::1960638564737376256/interactions)
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- [--] Week [-----] -26%
- [--] Month [------] -29%

### Mentions: [--] [#](/creator/twitter::1960638564737376256/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1960638564737376256/c:line/m:posts_active.svg)

- [--] Week [--] -53%
- [--] Month [--] -40%

### Followers: [---] [#](/creator/twitter::1960638564737376256/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1960638564737376256/c:line/m:followers.svg)

- [--] Week [---] +5.30%
- [--] Month [---] +35%

### CreatorRank: [---------] [#](/creator/twitter::1960638564737376256/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1960638564737376256/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  50% [finance](/list/finance)  49% [stocks](/list/stocks)  41% [technology brands](/list/technology-brands)  1% [automotive brands](/list/automotive-brands)  1%

**Social topic influence**
[bitcoin](/topic/bitcoin) 50%, [$xxi](/topic/$xxi) #4, [business](/topic/business) 11%, [company](/topic/company) 6%, [flow](/topic/flow) 5%, [money](/topic/money) 5%, [in the](/topic/in-the) 4%, [strike](/topic/strike) #2546, [cash flow](/topic/cash-flow) 4%, [if you](/topic/if-you) 4%

**Top accounts mentioned or mentioned by**
[@strategymaxi](/creator/undefined) [@comic](/creator/undefined) [@jackmallers](/creator/undefined) [@strategy](/creator/undefined) [@bitstrategy21](/creator/undefined) [@grok](/creator/undefined) [@hamjam47](/creator/undefined) [@twentyone](/creator/undefined) [@danielredmanp](/creator/undefined) [@smithsonbrennan](/creator/undefined) [@maximusinvestor](/creator/undefined) [@calebfranzen](/creator/undefined) [@sage91ini](/creator/undefined) [@timjzuz](/creator/undefined) [@lowstrife](/creator/undefined) [@therealdhr](/creator/undefined) [@hialeahhodl](/creator/undefined) [@albertahodl](/creator/undefined) [@brmuphy](/creator/undefined) [@imaramora](/creator/undefined)

**Top assets mentioned**
[Bitcoin (BTC)](/topic/bitcoin) [Cantor Equity Partners, Inc. Class A Ordinary Shares (CEP)](/topic/$xxi) [Strategy (MSTR)](/topic/$mstr) [BlackRock Inc (BLK)](/topic/blackrock)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Weekly update from @jackmallers about $XXI really appreciate You taking the time to answer these questions the community response has been overwhelmingly positive Here's the TL;DR full Q&A segment about Twenty One is down below in the video. 1) Being the CEO of both Strike and Twenty one can benefit one another bringing experience and resourcing from one to the other and vice versa. It's a feature not a bug. 2) There's proper filing needed when announcing news and disclosing new info for public companies this can slow things down. Proof of work is what matters things will be announced when"  
[X Link](https://x.com/ByteSideQuest/status/2013559657718063194)  2026-01-20T10:30Z [---] followers, [----] engagements


"What I like most about $XXI $CEP is that they will have two methods of acquiring more Bitcoin with business profits and with what MSTR did with their convertible bonds and equity sales. That enables them to not dillute unnecessarily while the NAV multiple is low and use profits of the businesses to keep buying more Bitcoin. And when the market is overheated the can capture the meaningful NAV premium through equity offerings. With the 3rd largest corporate holdings of Bitcoin already they are positioned to do very well once they fully list on the NYSE. Very bullish on them what do you think"  
[X Link](https://x.com/ByteSideQuest/status/1996964873314451651)  2025-12-05T15:28Z [---] followers, [----] engagements


"Today is the last day $XXI will trade in [----]. Price action has been really bad leading up to it but we should look ahead to what [----] will bring. I'm confident $XXI will outperform every other Bitcoin related company next year and I'd love to hear what everyone else thinks the company will achieve and your predictions for the price of Twenty One at EOY [----]. Share your thoughts and predictions in the replies here and I'll summarize them at the end of next year to see who was closest what the consensus targets were and whether the stock met them. Happy New Year wishing everyone a profitable"  
[X Link](https://x.com/ByteSideQuest/status/2006352878290469237)  2025-12-31T13:12Z [---] followers, [----] engagements


"$XXI has moved a big part of their Bitcoin recently from their proof of reserves wallets. I'm thinking it's to do with their business part of the company perhaps using their Bitcoin stack to start producing cash flow via lending If so XXI would be the first to actually use their stack to make some money with it. (Without selling any) Or are we all getting rugged for everyone to see in public markets lol. Monday will be interesting indeed. https://twitter.com/i/web/status/2010275296067432768 https://twitter.com/i/web/status/2010275296067432768"  
[X Link](https://x.com/ByteSideQuest/status/2010275296067432768)  2026-01-11T08:59Z [---] followers, [----] engagements


"Weekly update from $XXI CEO nothing new pretty much more to share on the business lines "soon" The proof of reserves addresses were updated so all good in that way no Bitcoin sold at all. The [--] Bitcoin sent was for a contractor doing work for XXI"  
[X Link](https://x.com/ByteSideQuest/status/2011074590647230527)  2026-01-13T13:55Z [---] followers, [----] engagements


"$XXI has lagged behind Bitcoin's performance over the last couple of days. I expect it to act like this until some news comes out on the business lines. At $9.73 per share and Bitcoin at $96k the mNAV is [----]. Basically buying Bitcoin at $85k if you were to buy the shares instead of BTC -11% discount. After cash starts flowing "soon" mNAV should go above 1x again. I'd use the discount (if you believe Bitcoin will do well). https://twitter.com/i/web/status/2011717511767539756 https://twitter.com/i/web/status/2011717511767539756"  
[X Link](https://x.com/ByteSideQuest/status/2011717511767539756)  2026-01-15T08:30Z [---] followers, [---] engagements


"@ObixTrading Many people don't even know $XXI exists the company doesn't have products producing cash flow yet too. Once both of those things change Twenty One will melt faces. Use the discount"  
[X Link](https://x.com/ByteSideQuest/status/2011719706022170800)  2026-01-15T08:38Z [---] followers, [---] engagements


"Questions I'd ask @jackmallers about $XXI if I had the chance: 1) How will you balance being CEO of both Strike and Twenty One while giving your best to each 2) What's holding back more details on the business side of Twenty One now that the merger is fully completed Regulatory hurdles or something else 3) What happened to the XXI website Why did the Bitcoin per share metric disappear and why has the news tab not been updated since April Will there be a website revamp soon 4) Is the rough timeline on the start of the business lines still early this year By the end of Q1 or has that shifted"  
[X Link](https://x.com/ByteSideQuest/status/2013242160162721997)  2026-01-19T13:28Z [---] followers, [----] engagements


"At $8.4 per $XXI share and BTC price at $90k the mNAV is about 0.82x Effective Bitcoin price if buying shares instead of Bitcoin is $74k Use the discount"  
[X Link](https://x.com/ByteSideQuest/status/2013995399816654976)  2026-01-21T15:21Z [---] followers, [----] engagements


"You buying or selling this $XXI"  
[X Link](https://x.com/ByteSideQuest/status/2014470413225460153)  2026-01-22T22:49Z [---] followers, [----] engagements


"Imagine if $XXI achieves a yearly 30% Bitcoin yield and Bitcoin itself grows by 30% per year. Now assuming good cash flows the mNAV should also expand let's assume 1.5x in [--] years. In [--] years stock price should be $210 that's why I'm investing in Twenty One"  
[X Link](https://x.com/ByteSideQuest/status/2015035387463213182)  2026-01-24T12:14Z [---] followers, [----] engagements


"@SirLouisIII3 Such a shame announcements coming by the end of Q1 on $XXI"  
[X Link](https://x.com/ByteSideQuest/status/2015437340643037405)  2026-01-25T14:51Z [---] followers, [---] engagements


"@HAMJAM47 Why would you short something that's trading below NAV Unless you think Bitcoin will keep dumping"  
[X Link](https://x.com/ByteSideQuest/status/2016077824591798653)  2026-01-27T09:16Z [---] followers, [--] engagements


"@StrategyMaxi @twentyone An amazing business would be stacking Bitcoin dilution free and without any perpetual payment obligations. Also what percentage of Bitcoin will MSTR have to hold for the premium to finally expand again"  
[X Link](https://x.com/ByteSideQuest/status/2016183280001757254)  2026-01-27T16:15Z [---] followers, [--] engagements


"Feels weird seeing $XXI up +5% today while Bitcoin is mostly flat usually it's the other way around 😂"  
[X Link](https://x.com/ByteSideQuest/status/2016230609698291984)  2026-01-27T19:23Z [---] followers, [---] engagements


"@DanielredmanP I think he said that he would be disappointed if they didn't have anything announced by the end of Q1"  
[X Link](https://x.com/ByteSideQuest/status/2018955371172307450)  2026-02-04T07:50Z [---] followers, [--] engagements


"@Brennan_BTC22 And in the earnings call they said that they wouldn't do dilutive Bitcoin purchases wild"  
[X Link](https://x.com/ByteSideQuest/status/2020856750660874260)  2026-02-09T13:46Z [---] followers, [---] engagements


"Guys we just have to wait until the business cash starts flowing then $XXI will take over the world"  
[X Link](https://x.com/ByteSideQuest/status/2017163436518477933)  2026-01-30T09:10Z [---] followers, [----] engagements


"$XXI price being $7.54 makes mNAV 0.85x effective Bitcoin price when buying shares instead is $665k"  
[X Link](https://x.com/ByteSideQuest/status/2018626522542928255)  2026-02-03T10:04Z [---] followers, [---] engagements


"Bought more $XXI at $6.84 now it will go lower enjoy the discount guys"  
[X Link](https://x.com/ByteSideQuest/status/2019080996604276870)  2026-02-04T16:09Z [---] followers, [----] engagements


"Acquired more $XXI at $6.48 now the price can dump lower once again"  
[X Link](https://x.com/ByteSideQuest/status/2020896473752199328)  2026-02-09T16:24Z [---] followers, [---] engagements


"So Jack said that $XXI is putting together the announcement on the operating business. Perhaps some news coming this week Hopefully Meanwhile stack more shares while the discount lasts"  
[X Link](https://x.com/ByteSideQuest/status/2021176466839421217)  2026-02-10T10:56Z [---] followers, [---] engagements


"@BitStrategy21 @StrategyMaxi I get that MSTR buying more raises all boats but that will happen anyway. I'd rather the individual investor get more Bitcoin exposure while that's happening"  
[X Link](https://x.com/ByteSideQuest/status/2008312184674160730)  2026-01-05T22:58Z [--] followers, [--] engagements


"@BitStrategy21 @StrategyMaxi What will MSTR do after Issue credit against Bitcoin forever"  
[X Link](https://x.com/ByteSideQuest/status/2008315348831932457)  2026-01-05T23:11Z [--] followers, [--] engagements


"Twenty One ( $XXI ) will eventually be valued based on its Bitcoin stack plus business revenue and profits. Of course the earnings should carry a multiple like other stocks and if they become substantial I wouldn't be surprised to see 1.5x mNAV eventually. The best part is that profits will flow back into the company by increasing its Bitcoin stack thereby raising BTC per share and acting as a sort of buyback program. If the NAV premium grows enough they could even issue convertible bonds at a premium again to capture valuation above their Bitcoin holdings. Now just waiting on the businesses"  
[X Link](https://x.com/ByteSideQuest/status/2001309521600270359)  2025-12-17T15:12Z [--] followers, [----] engagements


"If you look far back enough $XXI is actually up like +1% The best Bitcoin company 😎 Now is the time to load up the bags"  
[X Link](https://x.com/ByteSideQuest/status/2002005431464362349)  2025-12-19T13:17Z [--] followers, [---] engagements


"I've seen some people talking about how the market cap of $XXI is $7 billion that's because they count both Class A and Class B shares together and doesn't really make sense. The reality is that Class B shares are for voting ONLY they don't have any claim on the company profits/dividends etc. It's designed so that if they do dilute the stock for fund raising Tether maintains control of the company even if the total shares increase drastically. That means only Class A shares should count towards the market cap calculations since they have economic rights in the company and only these shares"  
[X Link](https://x.com/ByteSideQuest/status/2002381769350250993)  2025-12-20T14:13Z [---] followers, [----] engagements


"@midascabal $XXI bro the next trillion dollar company right here m8"  
[X Link](https://x.com/ByteSideQuest/status/2002511543326605796)  2025-12-20T22:48Z [---] followers, [----] engagements


"@Xking332 $XXI and by a long shot imagine buying Bitcoin with a BTC generator attached"  
[X Link](https://x.com/ByteSideQuest/status/2002742154264027622)  2025-12-21T14:05Z [--] followers, [--] engagements


"With Twenty One ( $XXI ) you have three ways of your shares gaining value: 1) Bitcoin price appreciation Self explanatory Bitcoin tends to go up as time goes on and in turn your shares gain value as well because the main asset the company holds is Bitcoin 2) Bitcoin per share growth The company's main objective is to increase their Bitcoin per share for Twenty One it will be mainly through using their profits to buy more Bitcoin or some accretive equity issuance. In the end your Bitcoin exposure should grow and not be static like the IBIT ETF or just holding Bitcoin yourself. 3) mNAV"  
[X Link](https://x.com/ByteSideQuest/status/2002756336166043921)  2025-12-21T15:01Z [---] followers, [----] engagements


"@DissolveDC How exactly did $XXI pretend to buy Bitcoin"  
[X Link](https://x.com/ByteSideQuest/status/2003540025963872479)  2025-12-23T18:55Z [--] followers, [---] engagements


"@comic Generational comeback incoming for $XXI"  
[X Link](https://x.com/ByteSideQuest/status/2004123244149035209)  2025-12-25T09:33Z [---] followers, [---] engagements


"$XXI at $10 feels like META in the $80's after Covid dump. Adding as much as I can in these levels"  
[X Link](https://x.com/ByteSideQuest/status/2004131931588608489)  2025-12-25T10:07Z [---] followers, [----] engagements


"The bear is the time to build. Keep buying $XXI Don't be the person who FOMO's back into the stock at all time highs later on just to be exit liquidity for someone else"  
[X Link](https://x.com/ByteSideQuest/status/2004539504942882908)  2025-12-26T13:07Z [---] followers, [----] engagements


"Here's some values plugged in for $XXI's performance. This is projected over [--] years starting from around 88k Bitcoin price and [----------] Bitcoin per share. Best part is that most profits go into an asset that's going to keep appreciating instead of melting fiat ice cubes. How can you not be bullish https://twitter.com/i/web/status/2004950561817268363 https://twitter.com/i/web/status/2004950561817268363"  
[X Link](https://x.com/ByteSideQuest/status/2004950561817268363)  2025-12-27T16:20Z [---] followers, [----] engagements


"Goal for [----] is to achieve my $XXI share count yield of 25% - 50% achieved through options selling and regular investing. Might be irresponsible but I'm all in right now"  
[X Link](https://x.com/ByteSideQuest/status/2005665941972300179)  2025-12-29T15:43Z [---] followers, [---] engagements


"@Bran58592672 @StrategyMaxi Except MSTR has no products it's solely reliant on their stock price. If it gets stuck at or below 1x mNAV then it's over for the company"  
[X Link](https://x.com/ByteSideQuest/status/2005977976148762955)  2025-12-30T12:23Z [---] followers, [--] engagements


"@unusual_whales $XXI and by a long shot"  
[X Link](https://x.com/ByteSideQuest/status/2006809669826986166)  2026-01-01T19:28Z [---] followers, [---] engagements


"REMINDER: At $9.75 per share of $XXI and Bitcoin price of $93k you can still get Bitcoin at $86.5k by buying shares instead of BTC. (0.93x mNAV) And you get a free Bitcoin generator with your 7% discount. Deal of the year here"  
[X Link](https://x.com/ByteSideQuest/status/2008143112888017079)  2026-01-05T11:46Z [---] followers, [---] engagements


"@comic @SmithsonBrennan It isn't a loss if they don't sell just as it isn't profit if they don't sell either. It's just assets profits come from operating a business they don't really do that"  
[X Link](https://x.com/ByteSideQuest/status/2008220494076489760)  2026-01-05T16:54Z [--] followers, [--] engagements


"@StrategyMaxi @BitStrategy21 But then you just wrap that Bitcoin in MSTR shares the individual shareholder doesn't benefit that much from it. I'd rather MSTR do slower accumulation of Bitcoin but a higher yield"  
[X Link](https://x.com/ByteSideQuest/status/2008307849860874343)  2026-01-05T22:41Z [--] followers, [--] engagements


"Looking back at what yield percentages MSTR had over their Bitcoin accumulation years I think it's fair to assume that $XXI can achieve around 40% yearly Bitcoin yield in the first years of the company operating. If that yield were to drop by 3% every year (more capital required to achieve same yields with a bigger Bitcoin stack every year) even then the growth in BTC per share would be amazing. Given the current fully diluted Bitcoin per share (0.00011334 BTC) over [--] years that figure would grow to a staggering [----------] BTC per share that's more than a 4x increase in your Bitcoin exposure."  
[X Link](https://x.com/ByteSideQuest/status/2008935027493495066)  2026-01-07T16:13Z [---] followers, [---] engagements


"@StrategyMaxi @Strategy 50B in pref sales in [----] or nah"  
[X Link](https://x.com/ByteSideQuest/status/2009016452809150944)  2026-01-07T21:37Z [--] followers, [---] engagements


"@GiovanniIncasa @grok "Hey grok I need monthly income which one of these preferred offerings is the best note that only one of them offers monthly income" lol"  
[X Link](https://x.com/ByteSideQuest/status/2009354518388199766)  2026-01-08T20:00Z [---] followers, [----] engagements


"@comic @thepowerfulHRV He also bought at 10k 20k 30k and so on. Is that your critique though That he bought an asset that had a correction and that will probably go above the ATH's again and again"  
[X Link](https://x.com/ByteSideQuest/status/2009618272908648899)  2026-01-09T13:28Z [--] followers, [--] engagements


"@comic @MaximusInvestor The point is that you can make anything look good or bad if you pick the right timeframe. Even in your example you pick [--] year and [--] months for some reason instead of just [--] years. The results vary a lot"  
[X Link](https://x.com/ByteSideQuest/status/2009690589948977324)  2026-01-09T18:15Z [---] followers, [--] engagements


"@comic @MaximusInvestor Not defending the company just think that pure price action doesn't make an asset good or bad. Why are you bullish on Bitcoin if it has gone down 30k in a bull run"  
[X Link](https://x.com/ByteSideQuest/status/2009692718457565536)  2026-01-09T18:24Z [--] followers, [--] engagements


"@mikewmunz Sure 20% will be huge. Not sure about MSTR being 2x mNAV in the future though. Kinda feel like the last time that happened was because of FOMO when Bitcoin was mooning"  
[X Link](https://x.com/ByteSideQuest/status/2009706001998721142)  2026-01-09T19:17Z [---] followers, [--] engagements


"@StrategyMaxi Look if Bitcoin does well then so will MSTR. But MSTR's upside is limited because they already hold so much Bitcoin. I'd like them to use prefs for all Bitcoin accumulation moving forward and common stock sales only to pay dividends"  
[X Link](https://x.com/ByteSideQuest/status/2010712454129451475)  2026-01-12T13:56Z [---] followers, [--] engagements


"@OccamiCrypto The difference between IBIT and MSTR is that MSTR aims to grow their Bitcoin count your IBIT will bleed money over time compared to just Bitcoin. Sure if Bitcoin performs worse than 1.36% per year then it's a loss but that's very unlikely"  
[X Link](https://x.com/ByteSideQuest/status/2010723027932295632)  2026-01-12T14:38Z [---] followers, [---] engagements


"Here's a 3rd grader version more suited for you: Bitcoin = magic toy that grows. BlackRock IBIT ticket: safe but takes 0.25% fee yearly slowly shrinks vs real BTC. MicroStrategy: borrows/sells shares to buy WAY more BTC every year. Critic: "MSTR costs 1.36%" Reply: Yeah but it grows your BTC pile. If BTC rises 1.36%/yr (it usually does a lot) you win bigger. Risky rabbit vs safe turtle. https://twitter.com/i/web/status/2010743101606772812 https://twitter.com/i/web/status/2010743101606772812"  
[X Link](https://x.com/ByteSideQuest/status/2010743101606772812)  2026-01-12T15:58Z [---] followers, [--] engagements


"@comic @HermesLux Yeah if you bought when the stock was 3x overvalued you lost money. Shocker I know. Historically and probably moving forward if you buy around 1x mNAV you will somewhat outperform Bitcoin bonus points if you sell when FOMO kicks in"  
[X Link](https://x.com/ByteSideQuest/status/2013209846728847591)  2026-01-19T11:20Z [---] followers, [--] engagements


"@CalebFranzen If only they had a crystal ball that tells them when to buy exactly Bitcoin usually has 1-2 weeks per year where it achieves most of it's gains for the year smash buying as soon as the money is in is the best practice"  
[X Link](https://x.com/ByteSideQuest/status/2013637657318809670)  2026-01-20T15:40Z [---] followers, [---] engagements


"@apfzd86 @CalebFranzen Saving this to make fun of you later thanks"  
[X Link](https://x.com/ByteSideQuest/status/2013765389780480333)  2026-01-21T00:07Z [---] followers, [--] engagements


"@BitStrategy21 I don't really see the point for an individual investor to just get wrapped Bitoin in form of some equity (that's not purely an ETF) unless they provide some value on top of just holding the Bitcoin for you"  
[X Link](https://x.com/ByteSideQuest/status/2014102879124979797)  2026-01-21T22:28Z [---] followers, [--] engagements


"Exactly but how will MSTR outperform by issuing shares at 1x mNAV effectively just wrapping Bitcoin in MSTR shares. I get that expanding the treasury helps the prefs by increasing colateral but in a world where companies have swallowed up most of the Bitcoin I'm not sure I see a reason for buying MSTR over other companies with regular businesses that just put their profits in Bitcoin. https://twitter.com/i/web/status/2014107128953233876 https://twitter.com/i/web/status/2014107128953233876"  
[X Link](https://x.com/ByteSideQuest/status/2014107128953233876)  2026-01-21T22:45Z [---] followers, [--] engagements


"Market doesn't seem to think so almost every other BTCTC that doesn't do anything is trading at or below NAV. MetaPlanet is one of the exceptions since they actually generate cash flow to fund further Bitcoin purchases therefore market values them well above NAV. I'm just arguing that if MSTR just issues shares at 1x mNAV then individual shareholders don't gain anything. I might get proven wrong in the future of course. https://twitter.com/i/web/status/2014129404054483051 https://twitter.com/i/web/status/2014129404054483051"  
[X Link](https://x.com/ByteSideQuest/status/2014129404054483051)  2026-01-22T00:14Z [---] followers, [---] engagements


"All I'm saying is that there is no value created for existing shareholders by diluting at 1x mNAV directly. Indirectly it increases colateral for prefs sure. Raising money at no premium on its own to buy Bitcoin won't outperform Bitcoin it's just buying Bitcoin with someone elses money. The company should do something to increase the shareholders Bitcoin exposure. Hoping MSTR will do that with the prefs. https://twitter.com/i/web/status/2014134485869113831 https://twitter.com/i/web/status/2014134485869113831"  
[X Link](https://x.com/ByteSideQuest/status/2014134485869113831)  2026-01-22T00:34Z [---] followers, [--] engagements


"@Sage91ini Old wise man told me to take out [--] loans to buy more NFA"  
[X Link](https://x.com/ByteSideQuest/status/2014477929145585991)  2026-01-22T23:19Z [---] followers, [---] engagements


"@timjzuz As far as I understand they want to do it right and announce when the thing is actually ready not before. Meanwhile stock price is suffering but it offers a big discount. It's more of a bet on Tether and Jack rather than the company"  
[X Link](https://x.com/ByteSideQuest/status/2014605901559181505)  2026-01-23T07:47Z [---] followers, [--] engagements


"@tripaseth Indeed keep stacking XXI on every opportunity"  
[X Link](https://x.com/ByteSideQuest/status/2014783539867169276)  2026-01-23T19:33Z [---] followers, [--] engagements


"@comic @jackmallers Shorts will get rekt shortly"  
[X Link](https://x.com/ByteSideQuest/status/2014783667348885996)  2026-01-23T19:33Z [---] followers, [--] engagements


"Their convertibles will be equitized why count those They are reflected in the fully diluted share count. And the preferreds are perpetual (except for STRK which is also reflected in the fully diluted share count) they won't be paid back no point in counting them in the calculations"  
[X Link](https://x.com/ByteSideQuest/status/2015118596163133597)  2026-01-24T17:44Z [---] followers, [--] engagements


"Let's even do a theoretical buy Let's say we sell 10M shares at market price of $163 we get $16.3B. That buys about 18253BTC at $89.3k. Total Bitcoin stack is now [------] and fully share count is [---------]. Bitcoin per share is now [----------] Bitcoin lower than before. How is the Bitcoin per share lower if the mNAV is above 1x https://twitter.com/i/web/status/2015124386693755217 https://twitter.com/i/web/status/2015124386693755217"  
[X Link](https://x.com/ByteSideQuest/status/2015124386693755217)  2026-01-24T18:07Z [---] followers, [--] engagements


"@lowstrife @comic But they sell shares at market value not enterprise value. They lose Bitcoin per share every time they dilute to buy more bitcoin now"  
[X Link](https://x.com/ByteSideQuest/status/2015124997409292527)  2026-01-24T18:10Z [---] followers, [--] engagements


"@lowstrife @comic Bro I know what happens when shares convert I'm using fully diluted shares here's an example using real numbers the Bitcoin per share would decrease if they issued shares right now. https://x.com/ByteSideQuest/status/2015124386693755217 @lowstrife @comic Let's even do a theoretical buy Let's say we sell 10M shares at market price of $163 we get $16.3B. That buys about 18253BTC at $89.3k. Total Bitcoin stack is now [------] and fully share count is [---------]. Bitcoin per share is now [----------] Bitcoin lower than before. https://x.com/ByteSideQuest/status/2015124386693755217"  
[X Link](https://x.com/ByteSideQuest/status/2015128897696714879)  2026-01-24T18:25Z [---] followers, [--] engagements


"Why is $MSTR using their enterprise value for mNAV calculations on their website IMO it's misleading to investors thinking MSTR is issuing shares at a premium. They should use share price / Bitcoin per share * Bitcoin price instead. That would show the actual mNAV were they to issue shares at that current moment. At [---------] fully diluted shares and Bitcoin stack of [------] BTC their Bitcoin per share is [----------] BTC. At Bitcoin price of $893k their Bitcoin value per share is $174 way above MSTR's share price of $163 that puts mNAV at 0.93x. Diluting at these prices would decrease Bitcoin"  
[X Link](https://x.com/ByteSideQuest/status/2015132889591984399)  2026-01-24T18:41Z [---] followers, [----] engagements


"@Sage91ini Buy $XXI with the profits"  
[X Link](https://x.com/ByteSideQuest/status/2015178431831355675)  2026-01-24T21:42Z [---] followers, [--] engagements


"@TheRealDHR MSTR is cheap true that's why diluting now doesn't make any sense every common equity sale decreases your Bitcoin per share. Only thing that is helping is preferred stock sales if those didn't happen you'd have negative Bitcoin yield YTD"  
[X Link](https://x.com/ByteSideQuest/status/2015186907760591127)  2026-01-24T22:16Z [---] followers, [--] engagements


"Preferred stock is counted toward enterprise value and is treated as debt. Since MSTR is selling shares at market value not enterprise value it is irrelevant. I suggest you try simulating MSTR selling equity and buying Bitcoin with it see how the Bitcoin per share changes and get back to me. https://twitter.com/i/web/status/2015192756193534099 https://twitter.com/i/web/status/2015192756193534099"  
[X Link](https://x.com/ByteSideQuest/status/2015192756193534099)  2026-01-24T22:39Z [---] followers, [--] engagements


"MSTR's whole vision is to outperform Bitcoin by offering more Bitcoin (in terms of Bitcoin yield). MSTR issuing shares the past months has been decreasing your Bitcoin per share. And the fact that they don't disclose the correct mNAV at which they issue shares worries me and IMO it should worry you too. They're advertising their mNAV as 1.08x when in reality it's 0.93x. You really want to be diluted at 0.93x mNAV Management is selling your Bitcoin per share at a discount and decreasing it. https://twitter.com/i/web/status/2015195464740544882 https://twitter.com/i/web/status/2015195464740544882"  
[X Link](https://x.com/ByteSideQuest/status/2015195464740544882)  2026-01-24T22:50Z [---] followers, [--] engagements


"@HialeahHodl Do you think they sell shares at enterprise value or market value Honest question"  
[X Link](https://x.com/ByteSideQuest/status/2015196535357669505)  2026-01-24T22:54Z [---] followers, [--] engagements


"@TheRealDHR Where is the "amplification" if your Bitcoin per share gets decreased"  
[X Link](https://x.com/ByteSideQuest/status/2015199519541993652)  2026-01-24T23:06Z [---] followers, [--] engagements


"@HialeahHodl So you honestly think issuing shares right now and buying Bitcoin with the proceeds would net you more Bitcoin per share Try simulating MSTR issuing shares and buying Bitcoin with the proceeds then see how the Bitcoin per share is affected. Spoiler it decreases"  
[X Link](https://x.com/ByteSideQuest/status/2015202261656285675)  2026-01-24T23:17Z [---] followers, [--] engagements


"Let's do an experiment issuing shares of $MSTR when their site proclaims that the mNAV is 1.08x MSTR's stack is [------] Bitcoin and their fully diluted share count is [---------] that puts their Bitcoin per share at [----------] BTC MSTR's latest price was $163 let's issue 10M shares and buy Bitcoin with the proceeds. We got $16B and buy Bitcoin at $893k. We got [-----] Bitcoins added to the balance sheet. Now if the fully diluted share count is [---------] and total Bitcoin stack is [------] Bitcoin. Divide Bitcoin count by share count and you get [----------] Bitcoin you just lost [---] Sats This"  
[X Link](https://x.com/ByteSideQuest/status/2015205910977577098)  2026-01-24T23:31Z [---] followers, [---] engagements


"@Alberta_HODL @grok Stop asking clankers to do the thinking for you"  
[X Link](https://x.com/ByteSideQuest/status/2015534463099224486)  2026-01-25T21:17Z [---] followers, [--] engagements


"@Alberta_HODL @grok Looks like the clanker doesn't like you might have to read and think a little bit this time :("  
[X Link](https://x.com/ByteSideQuest/status/2015537869729792390)  2026-01-25T21:30Z [---] followers, [--] engagements


"@timjzuz @jackmallers I think that's Strike XXI will focus on more institutional clients IMO"  
[X Link](https://x.com/ByteSideQuest/status/2015625959685177801)  2026-01-26T03:20Z [---] followers, [--] engagements


"@StrategyMaxi Even if it means less Bitcoin value per share"  
[X Link](https://x.com/ByteSideQuest/status/2015800429704085827)  2026-01-26T14:54Z [---] followers, [--] engagements


"@comic Whoa leave some for the rest of us bro"  
[X Link](https://x.com/ByteSideQuest/status/2015801413826142630)  2026-01-26T14:58Z [---] followers, [---] engagements


"@BrMuphy Added today as well to the strategic reserve 😎"  
[X Link](https://x.com/ByteSideQuest/status/2015896095121932618)  2026-01-26T21:14Z [---] followers, [--] engagements


"@ImaRamora Sticking with XXI until they execute their vision takes patience but I believe holders will be rewarded greatly"  
[X Link](https://x.com/ByteSideQuest/status/2015899676373844049)  2026-01-26T21:28Z [---] followers, [--] engagements


"@StrategyMaxi @Strategy Diamond hands god"  
[X Link](https://x.com/ByteSideQuest/status/2015900691206730224)  2026-01-26T21:32Z [---] followers, [--] engagements


"@ImaRamora True more time to accumulate before either Bitcoin takes off or XXI starts making announcements about their businesses starting up"  
[X Link](https://x.com/ByteSideQuest/status/2015904008238428491)  2026-01-26T21:45Z [---] followers, [--] engagements


"@tormentedkitten @GaryCardone @jackmallers XXI only down 20% since announcing the company"  
[X Link](https://x.com/ByteSideQuest/status/2015907627331383577)  2026-01-26T22:00Z [---] followers, [--] engagements


"@niccruzpatane No It's a cool company but not sure if it would be very profitable there's better stuff to own out there if you're looking for gains"  
[X Link](https://x.com/ByteSideQuest/status/1997081564380061798)  2025-12-05T23:12Z [---] followers, [--] engagements


"@Coinvo Cool company but is it a good investment I'm not sure"  
[X Link](https://x.com/ByteSideQuest/status/1998705379811762539)  2025-12-10T10:44Z [---] followers, [--] engagements


"Well seems like $XXI was just moving funds around we have not been rugged Very bullish 😭 Back at 43k Bitcoins"  
[X Link](https://x.com/ByteSideQuest/status/2010368118376354232)  2026-01-11T15:08Z [---] followers, [---] engagements


"@xkal3b @jackmallers @Strike Hoping that $XXI does acquire Strike at some point it fits perfectly with their goal of using high margin cash flow for more Bitcoin purchases. But maybe Twenty One will do it's own thing with institutional level clients"  
[X Link](https://x.com/ByteSideQuest/status/2010631847794053335)  2026-01-12T08:36Z [---] followers, [---] engagements


"@StrategyMaxi @Strategy IMO needs much more liquidity to not move the price if a good amount of people want to exit the position"  
[X Link](https://x.com/ByteSideQuest/status/2016160342183690475)  2026-01-27T14:44Z [---] followers, [---] engagements


"@comic Single handedly kicking off the short squeeze. Few"  
[X Link](https://x.com/ByteSideQuest/status/2016164148204163532)  2026-01-27T14:59Z [---] followers, [---] engagements


"@StrategyMaxi @twentyone I'm glad to wait some time longer for XXI to develop their businesses than to have my Bitcoin per share get decreased as time goes on. Total stack won't mean anything if my shares are worth a fraction of what they were"  
[X Link](https://x.com/ByteSideQuest/status/2016175968046469456)  2026-01-27T15:46Z [---] followers, [--] engagements


""Your" company is decreasing your Bitcoin per share on every common stock sale. The whole purpose of the company was to stack Bitcoin for you now it's chasing some terminal accumulation point that might take a decade or more if it even happens. All while decreasing your current Bitcoin exposure. Why not just have a good business and put spare earnings into Bitcoin locking up that value forever https://twitter.com/i/web/status/2016181923974992044 https://twitter.com/i/web/status/2016181923974992044"  
[X Link](https://x.com/ByteSideQuest/status/2016181923974992044)  2026-01-27T16:10Z [---] followers, [--] engagements


"@BrMuphy @jackmallers Voting shares are just for voting they should not be counted towards market cap"  
[X Link](https://x.com/ByteSideQuest/status/2016397915565023434)  2026-01-28T06:28Z [---] followers, [--] engagements


"@strive Very smart move to retire the 4.25% interest rate convertible debt and opt into 13.6% dividend rate SATA instead Def gonna pay off big time"  
[X Link](https://x.com/ByteSideQuest/status/2016574485411807573)  2026-01-28T18:09Z [---] followers, [---] engagements


"@StrategyMaxi @Strategy Take out another loan bro"  
[X Link](https://x.com/ByteSideQuest/status/2016885162412220449)  2026-01-29T14:44Z [---] followers, [---] engagements


"@StrategyMaxi @Strategy For common stock selling purposes mNAV is 0.91x noone doing ATM at enterprise value bro"  
[X Link](https://x.com/ByteSideQuest/status/2017341236525314103)  2026-01-30T20:56Z [---] followers, [---] engagements


"@SmithsonBrennan Only way I could think of why they are doing dilution at 1x mNAV is to increase collateral for their preferred stock sales in the future. And the increasing cash reserves also support the future sales of their prefs too"  
[X Link](https://x.com/ByteSideQuest/status/2008186083255980256)  2026-01-05T14:37Z [---] followers, [---] engagements


"@petrakov47 @StrategyMaxi Congrats on predicting another tariff tantrum You win"  
[X Link](https://x.com/ByteSideQuest/status/2013740494010851677)  2026-01-20T22:28Z [---] followers, [--] engagements


"@lasereyesbeam @StrategyMaxi @Strategy XXI isn't diluting shareholders at a 1x mNAV"  
[X Link](https://x.com/ByteSideQuest/status/2018955875373678752)  2026-02-04T07:52Z [---] followers, [--] engagements

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