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# ![@btc_overflow Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1639524229501849600.png) @btc_overflow Brian Brookshire (Bitcoin Overflow)

Brian Brookshire, also known as Bitcoin Overflow, has been discussing the Bitcoin Treasury Company (BTC TC) space, specifically the growth and developments of various companies such as $MSTR, $MTPLF, $SWC, and $NAKA. The BTC TC sector is heating up, with companies accumulating Bitcoin and exploring new capital markets strategies, including preferred stock launches and ATM (At-The-Market) offerings. Brookshire has also been commenting on the competitive landscape and potential for growth in the sector, particularly in East Asia.

### Engagements: XXXXXX [#](/creator/twitter::1639524229501849600/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1639524229501849600/c:line/m:interactions.svg)

- X Week XXXXXXX -XX%
- X Month XXXXXXXXX -XX%
- X Months XXXXXXXXX +85%
- X Year XXXXXXXXXX +3,814%

### Mentions: XX [#](/creator/twitter::1639524229501849600/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1639524229501849600/c:line/m:posts_active.svg)

- X Week XXX -XXXX%
- X Month XXX +61%
- X Months XXXXX +39%
- X Year XXXXX +968%

### Followers: XXXXXX [#](/creator/twitter::1639524229501849600/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1639524229501849600/c:line/m:followers.svg)

- X Week XXXXXX +1.20%
- X Month XXXXXX +6.60%
- X Months XXXXXX +84%
- X Year XXXXXX +730%

### CreatorRank: XXXXXXX [#](/creator/twitter::1639524229501849600/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1639524229501849600/c:line/m:influencer_rank.svg)

### Social Influence [#](/creator/twitter::1639524229501849600/influence)
---

**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  #803 [stocks](/list/stocks)  XXXXX% [finance](/list/finance)  #5690 [countries](/list/countries)  XXXX% [exchanges](/list/exchanges)  XXXX% [celebrities](/list/celebrities)  XXXX% [travel destinations](/list/travel-destinations)  XXXX% [social networks](/list/social-networks)  XXXX% [technology brands](/list/technology-brands)  XXXX% [automotive brands](/list/automotive-brands)  XXXX%

**Social topic influence**
[bitcoin](/topic/bitcoin) #257, [mstr](/topic/mstr) 4.66%, [$mtplf](/topic/$mtplf) #9, [atm](/topic/atm) 3.63%, [10x](/topic/10x) 3.11%, [listing](/topic/listing) 2.59%, [$lqwd](/topic/$lqwd) 2.59%, [$mstr](/topic/$mstr) 2.59%, [$sqns](/topic/$sqns) #1, [#bitcoin](/topic/#bitcoin) XXXX%

**Top accounts mentioned or mentioned by**
[@kakapo_coder](/creator/undefined) [@mc_khristina](/creator/undefined) [@vik_mittal](/creator/undefined) [@bitcoinpowerlaw](/creator/undefined) [@habanosxbt](/creator/undefined) [@mstrstrategy](/creator/undefined) [@ken100bands](/creator/undefined) [@adrianrmorris](/creator/undefined) [@nastyyas88](/creator/undefined) [@actuallyclimber](/creator/undefined) [@allyourmodels](/creator/undefined) [@sanderandersenn](/creator/undefined) [@mstrhodlr](/creator/undefined) [@benwerkman](/creator/undefined) [@richardbyworth](/creator/undefined) [@treasuryreport](/creator/undefined) [@mandalorianhodl](/creator/undefined) [@adam3us](/creator/undefined) [@cryptodaddy21m](/creator/undefined) [@coryklippsten](/creator/undefined)

**Top assets mentioned**
[Bitcoin (BTC)](/topic/bitcoin) [Metaplanet Inc. (MTPLF)](/topic/$mtplf) [Strategy (MSTR)](/topic/$mstr) [Semler Scientific, Inc. (SMLR)](/topic/$smlr) [Strategy Incorporated (STRF)](/topic/$strf) [CEREAL (CEP)](/topic/$cep) [Cantor Equity Partners, Inc. Class A Ordinary Shares (CEP)](/topic/$xxi) [Citigroup Inc (C)](/topic/citigroup) [Goldman Sachs (GS)](/topic/goldman-sachs) [Strike (STRK)](/topic/$strk) [iShares BTC Trust (IBIT)](/topic/$ibit) [Stride (STRD)](/topic/$strd) [The Smarter Web Co. (SWC.AQ)](/topic/the-smarter-web) [Charles Schwab Corporation (SCHW)](/topic/charles-schwab) [Coinbase Global, Inc. (COIN)](/topic/coinbase) [Nakamoto Games (NAKA)](/topic/$naka)
### Top Social Posts [#](/creator/twitter::1639524229501849600/posts)
---
Top posts by engagements in the last XX hours

"When Michael Jordan was in his prime I remember him talking about how top players watch lots of game footage and he watched more game footage than anybody. In Bitcoin Treasury land podcasts are the game footage. If you want to be the best study the best"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945177557105573915) 2025-07-15 17:44:03 UTC 15K followers, 7288 engagements


"@MikeYoumans35 @BraisMichael @TimKotzman @Adrian_R_Morris @Anders_ @Anders_ please report for duty so the bull market can resume"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945221796963209307) 2025-07-15 20:39:51 UTC 15K followers, XXX engagements


"It's still under appreciated how well $SWC's ATM-like program is structured. 1) Guarantee of no selling on down days. Psychologically huge for investors. 2) SWC pays X% execution fee to Shard. Comparable to MSTR ATM fees but potentially less than MTPLF's spread on MSWs"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944405133376319877) 2025-07-13 14:34:43 UTC 15.1K followers, 20.7K engagements


"$XXI / $CEP initial BTC funding under way. Verifiable onchain"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1929629066585342113) 2025-06-02 19:59:54 UTC 15K followers, 5307 engagements


"@Nastyyas88 We don't know exactly how many coins they'll wind up with but we know the total dollar value of it will be $420M (the amount raised). The dollar value of the BTC is what goes into mNAV calculation anyway so I simply used the fundraise amount for calcs here"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943998181030998108) 2025-07-12 11:37:38 UTC 15K followers, XX engagements


"$MSTR's very first purchase of 21454 BTC still today would be enough to make it the 3rd largest Public Bitcoin Treasury Company if MSTR had stopped there and never made additional buys. After MSTR's fourth buy it held what would still be #1 by a wide margin XXX years later"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945541487954989120) 2025-07-16 17:50:11 UTC 15.1K followers, 4497 engagements


"@mandalorianHODL @Sanderandersenn I think there are 2-3 weeks left on H100's OTCQB listing process"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945208244185583691) 2025-07-15 19:46:00 UTC 15K followers, XXX engagements


"Interesting structure. BTC AB's "ATM-type" program reads like a hybrid private placement / MSW program. A "group of investors" will be able to purchase shares at the greater of previous day's VWAP or close price with no lockup presumably re-selling them and capturing the arb"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945297645150273644) 2025-07-16 01:41:15 UTC 15K followers, 4638 engagements


"@mc_khristina @adam3us Not sure about lockup but there's not much of a delta between the PIPE prices and current market price. No one's in this for 20%-40%. The confusion will likely come later if/when price runs as most people don't really understand the financing on these deals"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945940431885291850) 2025-07-17 20:15:27 UTC 15K followers, XXX engagements


"$SQNS data take X. It's one of those days. 😂 I think all pieces of the puzzle are included now. Sequans implied mNAV still looking cheap at 2.75"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943446406758293856) 2025-07-10 23:05:05 UTC 15K followers, 10.9K engagements


"@hiyoko_peep Congratulations Fakes are the surest sign you've made it on social media"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945672021884477821) 2025-07-17 02:28:53 UTC 15K followers, XXX engagements


"@ScifoSal I do think there is some gamesmanship being played with the buys and keeping the excitement up. But there are also the practicalities of differences in timing between when a deal is agreed to and when the cash is actually settled in the bank and ready to deploy"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944796051530985885) 2025-07-14 16:28:05 UTC 15K followers, XXX engagements


"$SQNS forward mNAV is 2x after the pullback today. Market is not pricing in @BenWerkman helming the treasury strategy and having one of the most well known companies in bitcoin behind it"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945884381408530675) 2025-07-17 16:32:43 UTC 15.1K followers, 20.9K engagements


"$LQWD announces a $10M CAD ATM. One of the advantages of Canadian capital markets they have a US style ATM facility. No workarounds required"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945204263484846509) 2025-07-15 19:30:11 UTC 15K followers, 6459 engagements


"@chris19862004 There are a few good candidates who I won't name. But I think all candidates are going to undergo an inflection point around the 1K mark where new or at least additional strategies are needed to get from 1K to 10K than were needed to get from XX to 1K"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945273265640943982) 2025-07-16 00:04:22 UTC 15K followers, XXX engagements


"Over the past few years I have analyzed every move made by every Bitcoin Treasury Company. Both where they have succeeded and where they have failed. I believe I have worked out the secret sauce to Bitcoin Treasury Company marketing. But I'm keeping it to myself"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1941141556062503319) 2025-07-04 14:26:26 UTC 15K followers, 8505 engagements


"$SMLR gearing up for preferred stock launch"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942300890481734131) 2025-07-07 19:13:13 UTC 15.1K followers, 12.8K engagements


"Value transfer from the bond market to bitcoin is the most important story in all of Bitcoin Treasury land. The re-pricing and re-rating of bitcoin backed fixed income instruments is that process unfolding in real time"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943008907896721723) 2025-07-09 18:06:37 UTC 15K followers, 3282 engagements


"Capital Group is giga long $MTPLF while Barclay's Citigroup Goldman Sachs and JP Morgan are short. I think one of these fund managers is going to significantly outperform the others"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942556401286668532) 2025-07-08 12:08:31 UTC 15K followers, 17.1K engagements


"Great news for $ALTBG investors the OTCID listing is coming. OTCID is a new classification launching in July that replaces OTC Pink and comes with enhanced reporting requirements. It has the 3rd most stringent reporting requirements behind OTCQX and OTCQB"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942879747744161846) 2025-07-09 09:33:23 UTC 15K followers, 5645 engagements


"$MSTR might not have moved that much yet but $STRK is sniffing out that credit ratings boost that would come with S&P XXX inclusion"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1939834555847905581) 2025-06-30 23:52:53 UTC 15.1K followers, 25.7K engagements


"It's just difficult for newer nano caps to be relevant in a crowded market. Already I myself don't care at all about the next company to launch a treasury with only XX BTC. I see the next leg of the journey being winners chosen in international markets and sucking capital away from potential newcomers"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945986740487098444) 2025-07-17 23:19:28 UTC 15.1K followers, XX engagements


"The Korean market has even more unique restrictions than the Japanese market: - Statutory X yr lockup on private placements - Stricter up-tick rule for shorting - Difficult foreign access to KOSDAQ listings There's going to be no immediate release valve when BTCTC mNAV explodes"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944756193123094633) 2025-07-14 13:49:42 UTC 15K followers, 2606 engagements


"Just when you thought all the biggest names in bitcoin had already planted their Bitcoin Treasury flags enter @adam3us and @Blockstream in a new $4B SPAC deal with Cantor Fitzgerald"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945225384473026671) 2025-07-15 20:54:06 UTC 15.1K followers, 4932 engagements


"@ActuallyClimber I don't think it fully registers with people how much difference a few percentage points in interest makes. Even X% vs X% might not feel like much but the X% coupon would net XX% more BTC"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945241019777249781) 2025-07-15 21:56:14 UTC 15K followers, 2487 engagements


"@SatoshiWinston7 Yes. The companies launching with like XX BTC"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944878938125205583) 2025-07-14 21:57:27 UTC 15K followers, XXX engagements


"I think the era of 10x+ mNAV small cap Bitcoin Treasuries was a brief window in time that is now over. 10x+ mNAV is still achievable on a blow off top but I think the fastest growers re-rate to the 3x-7x range. I also think we see fewer BTCTCs launched from nano cap range"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944878116008288682) 2025-07-14 21:54:11 UTC 15K followers, 13.8K engagements


"There are many reasons I like the international Bitcoin Treasury Companies. But one eye opening experience in particular woke me up to the power of home markets. Growing up I remember my dad often looking at a product and saying "I want to see an address in the USA" before he would buy it. Years later I was talking with my Korean father-in-law who was expressing some doubt about a product. I unthinkingly flipped the box over and said "It has a USA address looks good to me." His response startled me but in retrospect should have been obvious. He said "No no I want to see a Korean address.""  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1938368902083535234) 2025-06-26 22:48:54 UTC 15K followers, 7050 engagements


"@Adrian_R_Morris @ddcbtc_ You got some Tier X artwork of yourself as well. I like"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944924765275480238) 2025-07-15 00:59:33 UTC 15K followers, XXX engagements


"I've already acclimated to $120K. What has bitcoin done for me lately"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1946039320927781141) 2025-07-18 02:48:24 UTC 15.1K followers, 6962 engagements


"@TraderJones1337 @DylanLeClair_ @gerovich Fidelity is not long. *We* are long via Fidelity. And there are many of us"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945250859115290686) 2025-07-15 22:35:20 UTC 15K followers, XXX engagements


"Note the cultural shift. K Wave Media ( $KWM ) aims to become the "Metaplanet of Korea.""  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1931716888288985436) 2025-06-08 14:16:10 UTC 15K followers, 29.5K engagements


"First run at $CEPO data. Looks like @adam3us's new LBE is currently trading at 2x forward mNAV"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945930884734996671) 2025-07-17 19:37:31 UTC 15K followers, 12.2K engagements


"$MTPLF has accumulated so much bitcoin recently that its mNAV has dropped to levels last seen when much of the excitement last kicked off in April/May"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942228374065451337) 2025-07-07 14:25:03 UTC 15K followers, 27.6K engagements


"Panic roll szn. Sure glad I'm not short any $MSTR or $IBIT calls right now"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944500151332028723) 2025-07-13 20:52:17 UTC 15K followers, 5680 engagements


"The $STRD ATM has arrived. 2x the size of Strategy's $STRF ATM ($4.2B vs $2.1B)"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942223697600725492) 2025-07-07 14:06:28 UTC 15K followers, 3833 engagements


"Take note $ALTBG's OTCID ticker will not be $BCHFX when the listing goes live. Stay tuned for updates"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945206315388748237) 2025-07-15 19:38:20 UTC 15K followers, 4510 engagements


"Holy cow. $ASST is experiencing the @PunterJeff hire pump"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942266010184089779) 2025-07-07 16:54:37 UTC 15K followers, 38.8K engagements


"@RedShipsSpain Unless bitcoin price runs away from them the $420M cash from just this raise alone is ample to hit 3000+ BTC. And I'm sure they will do more raises"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943448800174985524) 2025-07-10 23:14:36 UTC 15.1K followers, XXX engagements


"New Bitcoin Treasury Company metric: P/BYD (price / bitcoin yield) A natural extension of months to cover but annualized to more closely resemble traditional P/E ratios"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945444679476027605) 2025-07-16 11:25:30 UTC 15.1K followers, 6694 engagements


"@Level420Jesus Doesn't have anything to do with what I think it deserves has to do with what multiple the market will give it. That's where I see things trending"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944881661059195238) 2025-07-14 22:08:16 UTC 15K followers, XXX engagements


"$SMLR mixes it up with a Thursday morning bitcoin buy announcement of XXX BTC purchased with ATM proceeds"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945828116447784984) 2025-07-17 12:49:09 UTC 15.1K followers, 4914 engagements


"Market size matters. $LQWD has one of the larger global markets to grow into with some of the most robust capital markets facilities to employ. One other interesting fact about Canada is that it is one of the few countries with a US-syle ATM facility. No workarounds needed"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1941118355819405630) 2025-07-04 12:54:14 UTC 15K followers, 3939 engagements


"@MSTRHODLR I bet we see more and more companies launch right out the gate with dashboards PoB etc. The window dressing of a BTCTC is easy to copy. It's going to be important to differentiate those who execute from those who are just playing dress up"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944869319621664993) 2025-07-14 21:19:14 UTC 15K followers, XXX engagements


"@EneaDenkt @mandalorianHODL @Sanderandersenn Yeah in practical terms I don't think there's really a significant difference in market access for OTCQX vs OTCQB vs OTCID. The main differences are reporting requirements on the corporate side"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945218285437403402) 2025-07-15 20:25:54 UTC 15K followers, XXX engagements


"Fidelity and Schwab clients now own a combined XXXXX% of $MTPLF"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945863738495516896) 2025-07-17 15:10:42 UTC 15.1K followers, 13.7K engagements


"$LQWD completes another tranche of its $12.3M CAD financing. Bitcoin Treasury race is heating up in Canada"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944855208993153053) 2025-07-14 20:23:10 UTC 15K followers, 3839 engagements


"@kakapo_coder Entirely possible MSTR does not get included in September and there is no blow off top. In which case I don't think the market waits for it and moves on to other things. Either way there will be a lot happening in September that could be an inflection point"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945611126915362844) 2025-07-16 22:26:55 UTC 15K followers, XXX engagements


"@EricMaltbyKjr A 3x-7x grower with occasional 10x+ blow off tops is definitely not bearish at all. Metaplanet has already been following this pattern for some time"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944885715009233050) 2025-07-14 22:24:23 UTC 15K followers, XXX engagements


"@mc_khristina Until proven otherwise my take is that he used the moment to opportunistically issue a few CBs and horde cash. Much the same way he looted the Roaring Kitty pump for $3B in 2024. If I were the buyers of GME converts banking on BTC volatility I'd be incensed"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945213647749353534) 2025-07-15 20:07:28 UTC 15K followers, XXX engagements


"One might almost think $MTPLF were telegraphing an interest in launching X% dividend yield preferred stocks"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1938408968784576740) 2025-06-27 01:28:06 UTC 15K followers, 19.3K engagements


"$LQWD ramping up its flywheel with another $12.M CAD raise from new partner Polar Asset Management Partners"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942983720274682110) 2025-07-09 16:26:32 UTC 15K followers, 3861 engagements


"@resveratrol67 SWC is one candidate but there are others"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945273562345967838) 2025-07-16 00:05:33 UTC 15K followers, XXX engagements


"We're at an interesting juncture where we see if the early darling Bitcoin Treasury Companies of this wave can continue their momentum or capital continues to rotate through a new batch of companies. I think a few will continue strong but wouldn't be surprised to lose some"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944865409523384743) 2025-07-14 21:03:42 UTC 15K followers, 3621 engagements


"Coinbase says they're re-starting "Bitcoin loans" but read the fine print. Coinbase is just the middle man. They wrap bitcoin into cbBTC and deploy it into an Ethereum-based DeFi lending protocol called Morpho. I would not touch this product with a XX ft pole"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1879904138420761084) 2025-01-16 14:50:48 UTC 15K followers, 229K engagements


"Would still love to see some interviews with $KWM management and learn about the team behind this company but their fundraising is on point so far. K Wave Media will be an interesting contender to watch in the Korean market"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943295848873337205) 2025-07-10 13:06:49 UTC 15K followers, 3980 engagements


"@BitcoinPierre There's no longer any excuse for not understanding how little risk there is to $MSTR this cycle. Anyone intelligent enough to operate a bitcoin hardware wallet is intelligent enough to understand the concept of no debt maturing for at least X more years"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1930043061813252360) 2025-06-03 23:24:59 UTC 15K followers, 2708 engagements


"@cockytenuki Certainly a strong candidate. Very interested to see if more international ones can scale to that size and beyond. Hoping what we don't see is that they stall out for growth in the mid-1000s and become dependent on increasingly overcrowded US market for growth"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945267528361472068) 2025-07-15 23:41:34 UTC 15K followers, XXX engagements


"$CEPO data take X. Spreadsheet fixes. That's what I get for trying to post data on new tickers in a hurry. Numbers improve to 1.43x forward mNAV"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1946050966198878210) 2025-07-18 03:34:40 UTC 15.1K followers, 18K engagements


"This spaces is a must listen for $NAKA fans. David goes into depth on how they think about acquisition targets for new Bitcoin Treasury Companies and how NAKA will manage its portfolio company holdings"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1936413329603371180) 2025-06-21 13:18:09 UTC 15K followers, 25K engagements


"@Adrian_R_Morris @ddcbtc_ You got comic book stylized a bit"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944926267817513264) 2025-07-15 01:05:31 UTC 15K followers, XXX engagements


"H100 will be on the OTCQB tier and ALTBG will be on the OTCID tier. Technically OTCQB is a higher tier with more reporting requirements than OTCID (which replaces current OTC Pink). Might be some liquidity benefits to higher tiers but in practice I don't think it makes a large difference to retail so long is it is listed on *any* tier and not trading Gray or Expert market"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945210518890860812) 2025-07-15 19:55:02 UTC 15K followers, XXX engagements


"Dramatic repricing of $SQNS continues where it stops nobody knows. - $XXXX at 4x forward mNAV - $XXXX at 5x forward mNAV - $XXXX at 6x forward mNAV - $XXXXX at 10x forward mNAV"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943670686607638713) 2025-07-11 13:56:17 UTC 15.1K followers, 16K engagements


"Of all the other BTCTCs why does @saylor talk about $MTPLF the most It's not just because of their fast growth and excellent execution I believe it's because they're the closest to replicating his preferred stock playbook. It takes more than one player to build an industry"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1940534535453921484) 2025-07-02 22:14:21 UTC 15K followers, 14K engagements


"@Puttsson2 They buy at *previous day* close or VWAP. Presumably when the price is higher on the present day. There has been some variation in where the strike was set but Metaplanet's MSWs work similarly. It's how they've guaranteed new shares are only sold into strength"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945432974033293627) 2025-07-16 10:39:00 UTC 15.1K followers, XXX engagements


"$COIN.AQ $CINGF announced an increase in authorized shares of 600M each for both cash and non-cash consideration at its General Meeting. Keep eyes peeled for some moves from Coinsilium soon"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943693378660565071) 2025-07-11 15:26:28 UTC 15.1K followers, 6354 engagements


"Last time Simon was on the Syz pod with Richard $MTPLF was sub $X and a X handle mNAV. Now it's at $XXXX and a X handle mNAV. Feels like Simon in Switzerland is an auspicious sign"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945974016482648515) 2025-07-17 22:28:54 UTC 15.1K followers, 16.6K engagements


"New country flags on $NAKA's upcoming Bitcoin Treasury Company list. The "soon" flags are Korea Australia Netherlands Poland Greece and UAE"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1941100516374954202) 2025-07-04 11:43:21 UTC 15.1K followers, 16.3K engagements


"The Fidelity ownership base of $MTPLF is legion"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945149496167387227) 2025-07-15 15:52:33 UTC 15K followers, 13.5K engagements


"How much more accretive is $STRF than a convertible bond A rough comparison of dilution. Assume XX% $MSTR CAGR over XX years. $1M principal. A X% CB with XX% premium converts to 1806 shares. Only XXX shares need to be sold ATM to pay XX% STRF dividends. XX% fewer shares"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1929377725057323444) 2025-06-02 03:21:10 UTC 15K followers, 24.3K engagements


"@davmk1 I like that people are working with more bitcoin native ways of fundraising but I think they become challenging at scale. The primary market for these products has been family offices and OGs who are already invested in bitcoin. Larger institutional pools of capital are needed"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945836957075898851) 2025-07-17 13:24:17 UTC 15K followers, XX engagements


"@Bthemoon2030 @BraisMichael @TimKotzman @Adrian_R_Morris @Anders_ @AcropolisBTC Yes lots of good interviews from @AcropolisBTC as well"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945433734947172840) 2025-07-16 10:42:01 UTC 15K followers, XXX engagements


"@coryklippsten Assuming XX% BTC CAGR (as MSTR does) MSTR issuing STRD/STRF at XX% par is like using the ATM at 13.8x mNAV. If STRF can get investment grade credit ratings and push div rates down to X% it's like doing ATM at 23x mNAV. That makes prefs 7-12x more accretive than ATM at 2x mNAV"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1941889669345484863) 2025-07-06 15:59:10 UTC 15.1K followers, 20.7K engagements


"I do have my favorites but I'm happy for the success of all Bitcoin Treasury Companies. It's about more than just fiat denominated NGU. The more high performant teams we have building BTCTCs around the globe the quicker the world gets recapitalized on a bitcoin standard"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1943011181293093016) 2025-07-09 18:15:39 UTC 15K followers, 2643 engagements


"@BraisMichael It's really more about who the guest is than the host is for me. I mostly watch interviews with LBE management wherever they drop. That said @TimKotzman @Adrian_R_Morris and @Anders_ are some of the top producers of BT interviews"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945195149203554552) 2025-07-15 18:53:58 UTC 15K followers, XXX engagements


"I know it's tough out there for bitcoiners right now"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945305168901189696) 2025-07-16 02:11:08 UTC 15K followers, 2822 engagements


"Called it. Predicted $MTPLF BTC purchase amount a week ago"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1942091335667692021) 2025-07-07 05:20:31 UTC 15K followers, 12.3K engagements


"High volume red day. Wouldn't take it to the bank but possible local bottom for $SWC. Either way I think the broader correction in BTCTCs is nearing its conclusion. BTC and $MSTR shine for a bit then rotation comes for next leg up"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945607632724574319) 2025-07-16 22:13:01 UTC 15.1K followers, 8558 engagements


"Bitcoin Treasury Companies could dramatically improve readability of their press releases by listing the components of their fundraise and associated dilution in bullet point rather than prose format. Better yet include a summary table. Would save thousands of analyst hours"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944054144915886578) 2025-07-12 15:20:01 UTC 15K followers, 4453 engagements


"@wildgoosejon @BenWerkman My understanding is that Swan is tasked with actually executing the strategy. They're not just going to Sequans with some powerpoints and giving them advice they're hired for the actual doing"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1946008146696151116) 2025-07-18 00:44:31 UTC 15.1K followers, XXX engagements


"@uncommie Metaplanet has already been following this pattern for some time--trading in the 3x-7x range with occasional 10x+ blow off tops"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944884338518274346) 2025-07-14 22:18:55 UTC 15K followers, XXX engagements


"Still amazes me that ITM Oct and Jan $SQNS calls are priced barely more than spot"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945629145725128955) 2025-07-16 23:38:31 UTC 15.1K followers, 7142 engagements


"I applaud the effort to model it and not just assume exponential growth with 10x mNAV continues forever. But nonetheless max stack 2064 BTC seems low when sitting at 1275 BTC (with enough cash on hand to push it to 1625 BTC). A single 40M raise (which they've exceeded before) would be enough to push SWC over the mark"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944906242931007822) 2025-07-14 23:45:57 UTC 15K followers, XXX engagements


"In a few short weeks US based investors will no longer need to pick up the phone to trade Mliuz (CASH3)"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944016015777837517) 2025-07-12 12:48:30 UTC 15K followers, 3838 engagements


"Imagine getting hired as Director of Bitcoin Strategy and then getting a X hour sit-down with Michael Saylor for advice on the role. One interesting tidbit. Saylor says these are target BTC Ratings for preferreds: - Investment grade 10x - Convertible 5x - Junk 2x-3x"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1946013550046040307) 2025-07-18 01:06:00 UTC 15.1K followers, 11.7K engagements


"Big XX% jump in BTC holdings for $LQWD today"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1945097607551795551) 2025-07-15 12:26:22 UTC 15K followers, 5199 engagements


"$SWC's ATM-like program has a cap on new issuance of XX% of daily volume. So I got curious to benchmark how material the cap is vs. other programs. Over $MTPLF's April-May period the cap would have come into play on just X days with XX% and XX% of DV respectively"  
![@btc_overflow Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::1639524229501849600.png) [@btc_overflow](/creator/x/btc_overflow) on [X](/post/tweet/1944462735896608894) 2025-07-13 18:23:37 UTC 15K followers, 3998 engagements