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[@mikewmunz](/creator/twitter/mikewmunz)
"@wannabefresh @YieldMaxETFs It also speaks to the misunderstanding of Return of Capital specifically with the synthetics. They are many times making the distributions based off unrealized gains"  
[X Link](https://x.com/mikewmunz/status/1976304171943874890) [@mikewmunz](/creator/x/mikewmunz) 2025-10-09T15:10Z 4648 followers, 1629 engagements


"@HermesLux Whats funny is all the mNAV bears screaming about paying a premium completely ignore buying Bitcoin at a discount when its below 1x. Its a better value proposition below 1x than above for a shareholder"  
[X Link](https://x.com/mikewmunz/status/1979218374103081108) [@mikewmunz](/creator/x/mikewmunz) 2025-10-17T16:10Z 4652 followers, XXX engagements


"This guy runs a fixed income fund Your capitulation into Strategy fixed income products is inevitable 🤡🤡"  
[X Link](https://x.com/mikewmunz/status/1979222745167679741) [@mikewmunz](/creator/x/mikewmunz) 2025-10-17T16:27Z 4650 followers, 1987 engagements


"@BedlamPres How does a preferred holder claim the BTC"  
[X Link](https://x.com/mikewmunz/status/1979366463669702757) [@mikewmunz](/creator/x/mikewmunz) 2025-10-18T01:58Z 4653 followers, XXX engagements


"@BedlamPres Right but if the company is liquidating assets because of failure then the common is worth zero effectively If the company is successful and operational then the senior claim in a liquidation event means nothing because there is no liquidation event"  
[X Link](https://x.com/mikewmunz/status/1979376704901517395) [@mikewmunz](/creator/x/mikewmunz) 2025-10-18T02:39Z 4652 followers, XXX engagements


"I get that and so do I but majority of people dont want to and dont care. They want to know their wealth is safe and secure. They will entrust Fidelity Schwab BlackRock etc no problem. Far more wealth is trusted with them every second of the day than the Bitcoin network. They all have IRAs and 401ks and other brokerage accounts where all their assets already exist or are managed. Thats not changing anytime soon"  
[X Link](https://x.com/mikewmunz/status/1980396401952432275) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T22:11Z 4701 followers, XX engagements


"@_Checkmatey_ How do you filter out for bulk movement of coins that arent actually sold Theres significantly more activity daily now than any post previously with more adoption and institutional usage ETFs business etc"  
[X Link](https://x.com/mikewmunz/status/1980329761131098183) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T17:46Z 4701 followers, XXX engagements


"Then use Fidelity This fear of custodians just taking assets from people is not real. You have trillions of dollars with these custodians. Your grandma forgetting the private key or misplacing where something is has an infinitely high probability than asset seizure If its that big of a deal then go trust unchained or some multisig setup and involve multiple other parties and legal. Its not a surprise that many holders likely ones you held coins exclusively on exchanges would be more comfortable buying an ETF in their brokerage. The amount of people willing to self custody is still very small"  
[X Link](https://x.com/mikewmunz/status/1980344441895264716) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T18:44Z 4701 followers, XX engagements


"Humans are emotional and irrational. Analysis can only tell you what has happened without any distinction of what truly mattered at the time. Theres nothing that prevents some fund manager waking up tomorrow and saying I want to buy $X billion of MSTR because Satoshi spoke to him in a dream. This isnt priced in the market cant know before it happens and can only be looked at after the fact for its impact Thus the markets view of the value of anything is purely a subjective point in time determination. It can change at any point for many different reasons. The market was pricing MSTR as a 2x"  
[X Link](https://x.com/mikewmunz/status/1980440086966636826) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T01:04Z 4701 followers, XX engagements


"$MSTR Implied Volatility up to 64%"  
[X Link](https://x.com/mikewmunz/status/1975347237850059187) [@mikewmunz](/creator/x/mikewmunz) 2025-10-06T23:47Z 4668 followers, 1118 engagements


"The dividends are classified as Return of Capital which means the dividend reduces each share cost basis by the dividend amount and the dividend itself is not taxable This is enormous for tax implications or lack thereof. Even if they were QDI thatd be incredible but this is infinitely better What would change this classification in the future or is the structure of the product such that it will always be RoC"  
[X Link](https://x.com/mikewmunz/status/1978518269800690161) [@mikewmunz](/creator/x/mikewmunz) 2025-10-15T17:48Z 4680 followers, 10.4K engagements


"$STRK replaces real estate in your portfolio $STRK pays you $X per $XXX par value. Youre getting a cash on cash return forever much like a preferred return as an LP in a real estate deal (4-6% typically) and the property is Bitcoin instead of a multifamily apartment property You remove the physical risk the human risk the weather risk the taxes the maintenance the local and state municipality the insurance the contracts the management when you buy $STRK The Bitcoin Digital Capital is accreted to the $MSTR common stock as it appreciates just like the valuation of the real estate property. When"  
[X Link](https://x.com/mikewmunz/status/1978564712867508528) [@mikewmunz](/creator/x/mikewmunz) 2025-10-15T20:52Z 4675 followers, 1574 engagements


"@BenjaminStongMD Its classified as Return of Capital in the July filings for Q2 and they state that all of 2025 will be as well. Return of Capital dividends are not taxed"  
[X Link](https://x.com/mikewmunz/status/1978603781106360433) [@mikewmunz](/creator/x/mikewmunz) 2025-10-15T23:27Z 4654 followers, 1655 engagements


"$300 $MSTR will be a thing of the past in the not so distant future and a lot of people will be upset for selling here. We must always have bottom capitulators before the next expansion. The market gods require it. Just try not to be in that group"  
[X Link](https://x.com/mikewmunz/status/1978229586828644371) [@mikewmunz](/creator/x/mikewmunz) 2025-10-14T22:41Z 4701 followers, 9756 engagements


"Everyone eventually falls into Bitcoin rage bait engagement farming posts It tells you their X account purpose has been a failure To have two options on this platform: 1) Succeed in your purpose 2) Make intellectually dishonest and parody level tweets about Bitcoin (youre a failure)"  
[X Link](https://x.com/mikewmunz/status/1980433652745138596) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T00:39Z 4702 followers, XXX engagements


"@samcallah Cango is a machine. No one talks about them"  
[X Link](https://x.com/mikewmunz/status/1980645631510343792) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T14:41Z 4701 followers, XX engagements


"Thank you @vladtenev $STRC $STRF $STRK $HOOD"  
[X Link](https://x.com/mikewmunz/status/1973756991035367714) [@mikewmunz](/creator/x/mikewmunz) 2025-10-02T14:28Z 4695 followers, 1256 engagements


"Youve accused me of something I have absolutely never done. Says the guy who has been parading around for months claiming Saylor and Strategy are running a Ponzi scheme lying to shareholders and committing fraud You want to give people the benefit of the doubt but some make it near impossible to do so repeatedly"  
[X Link](https://x.com/mikewmunz/status/1977953922716254464) [@mikewmunz](/creator/x/mikewmunz) 2025-10-14T04:25Z 4689 followers, 1951 engagements


"So what does $XXI do Anyone have any information at all about anything for how they will acquire more Bitcoin than Strategy No they wont. I have this weird feeling they will try to monetize mortgages and loans of people putting up their Bitcoin as collateral offering some return. Doesnt seem feasible imo"  
[X Link](https://x.com/mikewmunz/status/1957472236472013224) [@mikewmunz](/creator/x/mikewmunz) 2025-08-18T15:58Z 4699 followers, XXX engagements


"When does $XXI go live"  
[X Link](https://x.com/mikewmunz/status/1963341364046733465) [@mikewmunz](/creator/x/mikewmunz) 2025-09-03T20:40Z 4699 followers, XXX engagements


"Strategy inclusion in S&P XXX on Dec X looking more and more likely by the day $MSTR $STRF $STRK $STRC"  
[X Link](https://x.com/mikewmunz/status/1973762533862539697) [@mikewmunz](/creator/x/mikewmunz) 2025-10-02T14:50Z 4699 followers, 1383 engagements


"$STRC is a much easier product to conceptually understand. Cash equivalent low volatility hyper yield in comparison to bank deposits or money market $STRF is much more difficult to get an accurate pricing understanding as its not a cash equivalent. Its a roaming interest rate/credit spread arbitrage product. Positioned for institutional capital not the common man $STRK is even more weird conceptually as its neither interest rate/credit spread or cash equivalent. It requires a full understanding of $MSTR and a long term view of its growth. Equity and cash yield combined. Highly volatile with"  
[X Link](https://x.com/mikewmunz/status/1973794521428472094) [@mikewmunz](/creator/x/mikewmunz) 2025-10-02T16:57Z 4699 followers, 14.1K engagements


"One day $MSTR will look like $NVDA were just not there yet. The world is still mostly clueless to Bitcoins role in the global economy over the coming 10-20 years"  
[X Link](https://x.com/mikewmunz/status/1976300111115305386) [@mikewmunz](/creator/x/mikewmunz) 2025-10-09T14:53Z 4699 followers, 4480 engagements


"If you think institutions dont like dilution and short sellers are attacking largely unknown and small companies now Wait until they hear tomorrow their monetary protocol and wealth preservation tool is going to double in supply magically The Bitcoin network is much stronger than this weak FUD. Its been proven countless times over. Goldman Sachs or BlackRock will not attempt some foolish takeover of their cash cow. No one is this stupid. Miners wont allow a bunch of tradfi lunatics to cannibalize their industry by doing something as stupid as attempting to force a hard fork on the network"  
[X Link](https://x.com/mikewmunz/status/1980400708957663424) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T22:28Z 4701 followers, 1595 engagements


"@martypartymusic What will the market structure bill change"  
[X Link](https://x.com/mikewmunz/status/1980647522352919001) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T14:49Z 4702 followers, 1461 engagements


"@martypartymusic Yea Ive been following a long time but the question is how do they actually enforce this globally Binance has been surveilled for multiple years as part of CZ going to jail. What prevents Wintermute continuing to do this via Binance and hyperliquid"  
[X Link](https://x.com/mikewmunz/status/1980648671361527818) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T14:53Z 4702 followers, XXX engagements


"Why buy $STRF when you can buy $STRC Your hope is STRF appreciates in principal. At $200/share its a X% yield. Who wants to buy this when $STRC gives nearly double and the payout is monthly less volatile. $STRK will continue to rise over time as MSTR common prices upwards lowering its effective yield for new buyers. Youre buying STRK for a dividend component and MSTR equity exposure. It will be extremely volatile. If you believe Bitcoin trends to zero and $MSTR cannot service liabilities leading to a liquidation then you shouldnt be buying STRF in the first place or any of these products. You"  
[X Link](https://x.com/mikewmunz/status/1958537232601489718) [@mikewmunz](/creator/x/mikewmunz) 2025-08-21T14:30Z 4700 followers, XXX engagements


"No $MSTR ATM $XX million preferred ATM $XX million $STRF"  
[X Link](https://x.com/mikewmunz/status/1967560427048685660) [@mikewmunz](/creator/x/mikewmunz) 2025-09-15T12:05Z 4700 followers, 1300 engagements


"No common ATM"  
[X Link](https://x.com/mikewmunz/status/1980245043119026663) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T12:09Z 4701 followers, 8914 engagements


"@ZynxBTC It will probably be X total globally that amount anything significant"  
[X Link](https://x.com/mikewmunz/status/1980339483712364546) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T18:25Z 4700 followers, XXX engagements


"@Adrian_R_Morris Its comical at this point"  
[X Link](https://x.com/mikewmunz/status/1980421740502348107) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T23:51Z 4701 followers, XXX engagements


"$MSTR is a one of one and cannot be replicated. You being upset and emotional that its not 3x leveraged to Bitcoin right now every minute of the day makes your myopic views childish and weak. Strategy is creating a first of its kind financial operation and youre crying that it no longer moves exactly XXXX% green when Bitcoin is up XXXX% in a specific X hour window of time The cry baby attitudes so many people have now is hysterical. Youre upset because you were smart enough to allocate and recognize the value proposition and Saylor had to change the model to better fit long term rather than a"  
[X Link](https://x.com/mikewmunz/status/1980422124708712922) [@mikewmunz](/creator/x/mikewmunz) 2025-10-20T23:53Z 4701 followers, 6002 engagements


"Just to be clear: If $MSTR didnt create preferred stocks and only tried to add more converts the stock would still not be above $XXX. In fact it would likely be exactly where it is today maybe even lower owning dramatically less Bitcoin and having created no competitive advantage after a X year head start"  
[X Link](https://x.com/mikewmunz/status/1980427489005494464) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T00:14Z 4702 followers, 8336 engagements


"@Michael36X @Adrian_R_Morris Yes those companies have their moat in their industries which is why they are so successful. Theres too many factors to count for why price action has sucked for MSTR and treasury companies as a whole and it starts with Bitcoin being flat for nearly a year"  
[X Link](https://x.com/mikewmunz/status/1980434075891691825) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T00:40Z 4700 followers, XX engagements


"The AI bots are taking over the platform"  
[X Link](https://x.com/mikewmunz/status/1980475590823346315) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T03:25Z 4701 followers, 1404 engagements


"Yes you need to zoom out and be patient Bitcoin is up X% in the last XX months Bitcoin credit is a brand new concept and product. Its taken XX years for X% of people to become comfortable with Bitcoin. Creating a brand new financial product the market has never seen to investors and institutions who are maximally conservative its not a flip the light on type deal. The prefs have been incredibly successful so far and anyone saying they are not is delusional. Its going to take time to pull capital into them to the tune of billions of new issuance. Its so ridiculous to expect differently. Is"  
[X Link](https://x.com/mikewmunz/status/1980745485380993195) [@mikewmunz](/creator/x/mikewmunz) 2025-10-21T21:18Z 4701 followers, XX engagements