[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] [@RoaringRagnar](/creator/twitter/RoaringRagnar) "Strategy Announces $XXX Billion $STRD At-The-Market Program 🤯 Strap on the rocket boosters we're going to the Moon"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1942205008381981136) 2025-07-07 12:52:13 UTC 9617 followers, 3483 engagements "@Micro2Macr0 Great plan and very similar to mine. Also look at products like $BITC I really like them for downside protection while maintaining upside exposure"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943773259406684619) 2025-07-11 20:43:53 UTC 9605 followers, XXX engagements "Fantastic news from Czechia legalizing psilocybin"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946335173928202472) 2025-07-18 22:24:01 UTC 9610 followers, 2623 engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF Change log: - Added latest $HOGPF purchase + capital raise - Added latest $SWC capital raise - Added latest $ALTBG capital raise - I removed $SMLR and $KULR to simplify my sheets. I will add them back once they massively increase aggressiveness ⚠ Important updates: - After discussing with @RichardByworth and analyzing the dashboards of $MSTR and $MTPLF I decided to base the mNAV calculation on the basic shares outstanding (instead on the fully diluted share count) - BTC Yield is still calculated based on"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943390468718350681) 2025-07-10 19:22:48 UTC 9629 followers, 90.9K engagements "How should I call my comparison spreadsheet Ragnaboard has been suggested. Any other ideas"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946546348322410925) 2025-07-19 12:23:09 UTC 9629 followers, 11K engagements "I'm not sure about the current H100 cash balance. What's the best way to accurately calculate cash balance I'm having a hard time parsing the complicated capital structure: @steve_btcfo @Bthemoon2030"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943450642791747750) 2025-07-10 23:21:55 UTC 9629 followers, 2585 engagements "@KristophJeffers Or. we could just hodl and enjoy life 😎"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947732280140554492) 2025-07-22 18:55:37 UTC 9629 followers, XXX engagements "Here's $MTPLF priced in $MSTR. We're down XX% or up XX% in terms of $MSTR. So everyone who runs their $MSTR ATM right now will get XX% more $MTPLF shares than a few weeks ago. These are the opportunities to take advantage of. Be greedy when others are fearful"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943617885357703636) 2025-07-11 10:26:29 UTC 9629 followers, 71.6K engagements "@Croesus_BTC @Runnersvibes Would love to talk and exchange ideas Jesse. I prefer my forward version. See my reasoning here"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946973177998917999) 2025-07-20 16:39:13 UTC 9629 followers, XXX engagements "To be fair we cant just look at "new supply". There's always a supply of coins ready to be sold especially as the price goes higher. Would be interesting to see an estimate of how many coins will come on the market at any future price. If we assume that 4m Bitcoin are lost then we have XXX billion people (and hundreds of thousands of companies and organizations) fight over 17m Bitcoin. Personally I like this visualization the best: There are 65m millionaires in the world. So every millionare can only ever get XXXX BTC. Let that sink in"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947222393685999963) 2025-07-21 09:09:30 UTC 9629 followers, 1541 engagements "Current $MTPLF mNAV is XXXX. In early May when they were at similar levels Metaplanet was holding 5000 BTC. Since then they more than 3x their stack. QTD BTC Yield is XXXX% which is almost as much as Strategys YTD number. I may need to run the $MSTR ATM again today"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945376628818739557) 2025-07-16 06:55:06 UTC 9629 followers, 34.2K engagements "Why did $MSTR choose to delever I think they are preparing themselves for an epic bull run fueled by hundreds of pure play BTC Treasury Companies. I also think they are waiting for the credit markets to catch up and give their prefs the credit rating they deserve. I would like to see all converts convert and disappear from their balance sheet. This will then be the time to aggressively lever up via prefs. They said they are targeting a leverage ratio of 20-30%. With $STRD they might go even higher as this is their junk bond. Personally I would use only XX% of the target leverage capacity."  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947275553020498068) 2025-07-21 12:40:45 UTC 9629 followers, 5823 engagements "Be honest have you sold native BTC to buy BTC Treasury Companies"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947177110399070402) 2025-07-21 06:09:34 UTC 9629 followers, 3347 engagements "Serious question how do you guys keep up with everything Im reaching my limits and to be honest have reached them a long time ago"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947726048742781350) 2025-07-22 18:30:51 UTC 9629 followers, 13.3K engagements "@Leo_HODL What period have you used for BYD It would be helpful to add this to the chart"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947191901809004630) 2025-07-21 07:08:21 UTC 9614 followers, XXX engagements "⚠ Open-Sourcing my Comparison Framework & Help Needed Due to popular demand I have now decided to open source my comparison framework. I've uploaded all the spreadsheets that I use for my comparisons to this public Google Sheets: My comparison is under "Ragnar Comparison" and the data source is "BTC Master Sheet". Help needed: Can someone help create a master sheet template that collects all data per single company Basically a generalized version of "BTC Master Sheet" worksheet for one company including all raises all cash balances all purchases all converts all debt all BTC Yields all"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946561282582134977) 2025-07-19 13:22:29 UTC 9629 followers, 37.8K engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF Change log: - Added latest $SWC purchase - Added assumed fully diluted number of shares in addition to basic shares - Added Forward months to cover based on my estimation for Q3 BTC Yield It's slowly coming together. 😊 This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates."  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943598878567121186) 2025-07-11 09:10:57 UTC 9629 followers, 56.8K engagements "Germany has its first Bitcoin Accumulation Machine"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1942500274121449635) 2025-07-08 08:25:29 UTC 9546 followers, 13.7K engagements "@ColeMacro What will be the key consequences of so much Paper Bitcoin"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946617954314961337) 2025-07-19 17:07:41 UTC 9613 followers, XXX engagements "Summary of the $MSTR SEC filing July XX 2025: X. $XXXXX million raised from $MSTR ATM at $XXXXXX per share on average. $XXXXX billion capacity remaining. X. $XXXX million raised from $STRK ATM at $XXXXXX per share on average. New record. $XXXXX billion capacity remaining. X. $XXXX million raised from $STRF ATM at $XXXXXX per share on average. New record. $XXXX billion capacity remaining. X. $XX million raised from $STRD ATM at $XXXXX per share on average. New record. $XXXX billion capacity remaining. X. In total Strategy raised $XXXXX million from preferreds and continues to harvest the juicy"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1944735317430349902) 2025-07-14 12:26:45 UTC 9629 followers, 80.5K engagements "BTC Treasuries Community Ranking July XX 2025 Link to spreadsheet:"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1944876669325451740) 2025-07-14 21:48:26 UTC 9629 followers, 30.7K engagements "Can anyone summarize the $SQNS thesis for me I cant keep up with all those companies"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947242841027043780) 2025-07-21 10:30:45 UTC 9629 followers, 15K engagements "@AlexandreLaizet @_ALTBG 2000 BTC in reach 🔥"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947177450707788257) 2025-07-21 06:10:55 UTC 9616 followers, XXX engagements "My main metric for pair trading BTC Treasuries is FMC (in months) or Forward P/BYD (same number but in years). FMC means Forward Months to Cover mNAV. It's the number of months it takes to fully cover the Forward mNAV back to X. It's based on the Forward mNAV (which includes all cash ready to be deployed into Bitcoin) and my estimate of Q3 BTC Yield. I don't like to look backwards as the historical numbers are often skewed upwards for early companies or a little low for companies with a bad quarter (like ALTBG). Of course this is highly subjective. You can download my spreadsheet and include"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947211709057274163) 2025-07-21 08:27:03 UTC 9629 followers, 2822 engagements "35% sold native BTC to buy BTC Treasury companies. Full results of my poll:"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947546237537763337) 2025-07-22 06:36:21 UTC 9629 followers, 1846 engagements "A lot of people are selling BTC for Treasuries. Very interesting and something to keep in mind when BTC price takes a breather"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947229344159412660) 2025-07-21 09:37:08 UTC 9629 followers, 2446 engagements "YOLO PORTFOLIO UPDATE JULY XX 2025 Project $1M: XX% complete Added $PXI today. Super small super early risky but great potential. They have $13M CAD in cash & equivalents that they plan to fully port into Bitcoin. Note: This is my strict YOLO portfolio where I deliberately push the limits. Its a small part of my net worth. I still have my big HODL positions. Dont blindly copy me"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1944857251182755882) 2025-07-14 20:31:17 UTC 9550 followers, 12.9K engagements "Current comparison between BTC Treasury companies: $MSTR $MTPLF $ALTBG $SMLR and $SWC Change log: - Added $SWC due to popular demand. - Added subjective BTC Yield Discount to account for small base I need help with $SWC: Is share count correct Do they have debt When was their first purchase and how much (ideally including source links where I can get the updated numbers in the future) I need help with $KULR: Can anyone provide me with all relevant data (ideally including source links where I can get the updated numbers in the future) This is all still very experimental and manual. Follow me"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1926998483703119938) 2025-05-26 13:46:55 UTC 9629 followers, 67.6K engagements "Summary of the $MSTR SEC filing July XX 2025: X. $XXXXX million raised from $MSTR ATM at $XXXXXX per share on average. $XXXXX billion capacity remaining. X. $XXX million raised from $STRK ATM at $XXXXXX per share on average. XXXXX billion capacity remaining. X. $XXX million raised from $STRF ATM at $XXX per share on average (seems low Im pretty sure theres a rounding problem or an error there). $XXXX billion capacity remaining. X. $XXX million raised from $STRD ATM at $XXXXX per share on average. $XXXX billion capacity remaining. X. In total Strategy raised just $XXX million from preferreds"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947270781819379834) 2025-07-21 12:21:47 UTC 9629 followers, 27.1K engagements "Agree. X share price metrics are relevant: - fiat price - price in BTC - BTC per share"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946519061568881110) 2025-07-19 10:34:43 UTC 9564 followers, 3694 engagements "Sequans now holds 2317 BTC and became now the largest BTC holder in France 🤯"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947242302797127975) 2025-07-21 10:28:37 UTC 9629 followers, 10.7K engagements "@joey_cacciatore Thank you for posting this update. A great week indeed. Looking forward to the press release that confirms the deployment of the cash. Keep it up. 🔥"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946917723910357026) 2025-07-20 12:58:52 UTC 9629 followers, 1352 engagements "@Syffe92 My next ones will be $SQNS and $LQWD but honestly I'm already at my limit of what I can handle"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946494286742114405) 2025-07-19 08:56:16 UTC 9565 followers, XXX engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $SMLR $ALTBG $KULR $SWC $HOGPF $CINGF I added X new community metrics: X. # of members in the largest company specific X community X. Member conviction score: Members per day since first BTC purchase X. Members per $1B of market cap This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback &"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1941409142716993910) 2025-07-05 08:09:43 UTC 9629 followers, 36.7K engagements "@EneaDenkt @saylor @IIICapital @AlexandreLaizet @Kosanovic_V @dannyfonse @Bthemoon2030 @ZynxBTC I think you need at least 5000 BTC to even consider preferreds. Not everybody will be able to get to this stage"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945950080252420495) 2025-07-17 20:53:47 UTC 9549 followers, XXX engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI Change log: - Added new purchases and raises from $MTPLF $ALTBG $PXI - Added $10M CAD estimated private placement raise of $BLGV (to be announced) to have a proper comparison with $PXI This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback & discussion"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945132484062073227) 2025-07-15 14:44:57 UTC 9629 followers, 77K engagements "I initiated a position today in $PXI. 0.87x Forward mNAV and XXX% BTC Yield so far after X purchases. Press releases: Join this community and follow @PlanetPXI"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1944826730213974363) 2025-07-14 18:30:00 UTC 9629 followers, 14.8K engagements "Network effects matter. Not just for Bitcoin Spot ETFs but also for BTC Treasuries. Look at the difference in trading volume of $IBIT and everyone else. (see below) Its a factor 8.5x to 90x difference. The same will happen with BTC Treasuries. The ones with large volumes & large volatility and sustained healthy mNAV & BTC Yield will outperform the others with similar factors. Step X is to get to XXX BTC. Step X is to get to XXX BTC. Step X is to get to 2100 BTC Only the ones who get to 2100 BTC and have a clear path for further growth will have a shot at long-term success. The others will"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945983656511627336) 2025-07-17 23:07:12 UTC 9602 followers, 34.7K engagements "@gerovich Most shares on Interactive Brokers DN3 ticker. Please help to make sure that volume increases & spreads decrease for DN3 🙏🏻"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945868553007120682) 2025-07-17 15:29:50 UTC 9629 followers, 10.6K engagements "@greg16676935420 Nah. I will make probably way more than $17M in that year from the alpha I get on X"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946916595298615646) 2025-07-20 12:54:22 UTC 9619 followers, XXX engagements "Would you rather own all of Ethereum ($450B) or 3x all pure play public BTC Treasury companies (3 x $130B = $390B) and still have $60000000000 left over Crazy how incredibly undervalued BTC Treasuries are when compared to altcoins 🤯"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947184323485938041) 2025-07-21 06:38:14 UTC 9629 followers, 3455 engagements "$MSTR is now up XX% measured in $MTPLF. That means that for each $MSTR share you now get 1.6x the amount of $MTPLF shares compared to one month ago. This is the power of intelligent pair trading"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1945423017732931808) 2025-07-16 09:59:26 UTC 9606 followers, 16K engagements "@PaulAustin3w Amazing. Hopefully more countries will follow this example 🔥"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946334859703509417) 2025-07-18 22:22:46 UTC 9580 followers, XXX engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI Change log: - Added $PXI (beta) - Added all new purchases and raises - Updated community numbers This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback & discussion welcome"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1944885337018306757) 2025-07-14 22:22:53 UTC 9604 followers, 32.9K engagements "Private placements or subscription rights are the cheat code for early stage BTC Treasury Companies. Imagine if HALF the capital that we all invested was not on the open market but in form of private placements or subscriptions. Then those early stage companies could have purchased hundreds of BTC more. Let's say someone wants to invest $100K. If they buy the shares on the open market then the shares simply change hands and the company doesn't get any new capital to purchase Bitcoin. If the $100K are invested via a private placement or subscription then the company gets new capital and can"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947217594563367120) 2025-07-21 08:50:26 UTC 9629 followers, 4654 engagements "@chrisoc9999 Yes $ALTBG looking very solid. Especially if they can substantially increase BTC Yield in Q3 which is my expectation"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1943449700041888032) 2025-07-10 23:18:10 UTC 9629 followers, XXX engagements "I really like the unique positioning of $STRK. You are high in the capital structure have an $X fixed dividend and healthy upside participation. A great vehicle to potentially rotate profits into basically delevering & hedging while maintaining upside potential"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1942367519622209904) 2025-07-07 23:37:58 UTC 9629 followers, 5163 engagements "YOLO PORTFOLIO UPDATE JULY XX 2025 Project $1M: XX% complete Starting to get into a nice rhythm. Almost all treasuries are down yet my yolo account is up 5%. Rotated some profits into $MTPLF (DN3). Goal is to have a good balance between higher risk and lower risk positions. I like my $SWC and $MTPLF positions in that regard. Note: This is my strict YOLO portfolio where I deliberately push the limits. Its a small part of my net worth. I still have my big HODL positions. Dont blindly copy me"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946272862072889453) 2025-07-18 18:16:24 UTC 9629 followers, 18.2K engagements "Its nuts what $SWC achieved in such a short period of time. 1600 BTC (+240 BTC in cash) in X months. Lets see whether they can keep up this pace"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1947189967614103692) 2025-07-21 07:00:39 UTC 9629 followers, 3636 engagements "Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI ⚠ BIG UPDATE (read below) Change log: - Added all new purchases and capital raises - Updated all cash balances (as well as I could) - Added fully diluted current mNAV (yellow highlight) - Added Forward P/BYD (green highlight) Discusson on P/BYD While I appreciate the new P/BYD metric by @Croesus_BTC and @asjwebley I prefer my "Forward Months to Cover" metric (highlighted in green). First it considers the Forward mNAV including the cash ready to be deployed into Bitcoin. And second it uses my Q3"  [@RoaringRagnar](/creator/x/RoaringRagnar) on [X](/post/tweet/1946488914283208866) 2025-07-19 08:34:55 UTC 9629 followers, 84.1K engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@RoaringRagnar
"Strategy Announces $XXX Billion $STRD At-The-Market Program 🤯 Strap on the rocket boosters we're going to the Moon"
@RoaringRagnar on X 2025-07-07 12:52:13 UTC 9617 followers, 3483 engagements
"@Micro2Macr0 Great plan and very similar to mine. Also look at products like $BITC I really like them for downside protection while maintaining upside exposure" @RoaringRagnar on X 2025-07-11 20:43:53 UTC 9605 followers, XXX engagements
"Fantastic news from Czechia legalizing psilocybin" @RoaringRagnar on X 2025-07-18 22:24:01 UTC 9610 followers, 2623 engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF Change log: - Added latest $HOGPF purchase + capital raise - Added latest $SWC capital raise - Added latest $ALTBG capital raise - I removed $SMLR and $KULR to simplify my sheets. I will add them back once they massively increase aggressiveness ⚠ Important updates: - After discussing with @RichardByworth and analyzing the dashboards of $MSTR and $MTPLF I decided to base the mNAV calculation on the basic shares outstanding (instead on the fully diluted share count) - BTC Yield is still calculated based on" @RoaringRagnar on X 2025-07-10 19:22:48 UTC 9629 followers, 90.9K engagements
"How should I call my comparison spreadsheet Ragnaboard has been suggested. Any other ideas" @RoaringRagnar on X 2025-07-19 12:23:09 UTC 9629 followers, 11K engagements
"I'm not sure about the current H100 cash balance. What's the best way to accurately calculate cash balance I'm having a hard time parsing the complicated capital structure: @steve_btcfo @Bthemoon2030" @RoaringRagnar on X 2025-07-10 23:21:55 UTC 9629 followers, 2585 engagements
"@KristophJeffers Or. we could just hodl and enjoy life 😎" @RoaringRagnar on X 2025-07-22 18:55:37 UTC 9629 followers, XXX engagements
"Here's $MTPLF priced in $MSTR. We're down XX% or up XX% in terms of $MSTR. So everyone who runs their $MSTR ATM right now will get XX% more $MTPLF shares than a few weeks ago. These are the opportunities to take advantage of. Be greedy when others are fearful" @RoaringRagnar on X 2025-07-11 10:26:29 UTC 9629 followers, 71.6K engagements
"@Croesus_BTC @Runnersvibes Would love to talk and exchange ideas Jesse. I prefer my forward version. See my reasoning here" @RoaringRagnar on X 2025-07-20 16:39:13 UTC 9629 followers, XXX engagements
"To be fair we cant just look at "new supply". There's always a supply of coins ready to be sold especially as the price goes higher. Would be interesting to see an estimate of how many coins will come on the market at any future price. If we assume that 4m Bitcoin are lost then we have XXX billion people (and hundreds of thousands of companies and organizations) fight over 17m Bitcoin. Personally I like this visualization the best: There are 65m millionaires in the world. So every millionare can only ever get XXXX BTC. Let that sink in" @RoaringRagnar on X 2025-07-21 09:09:30 UTC 9629 followers, 1541 engagements
"Current $MTPLF mNAV is XXXX. In early May when they were at similar levels Metaplanet was holding 5000 BTC. Since then they more than 3x their stack. QTD BTC Yield is XXXX% which is almost as much as Strategys YTD number. I may need to run the $MSTR ATM again today" @RoaringRagnar on X 2025-07-16 06:55:06 UTC 9629 followers, 34.2K engagements
"Why did $MSTR choose to delever I think they are preparing themselves for an epic bull run fueled by hundreds of pure play BTC Treasury Companies. I also think they are waiting for the credit markets to catch up and give their prefs the credit rating they deserve. I would like to see all converts convert and disappear from their balance sheet. This will then be the time to aggressively lever up via prefs. They said they are targeting a leverage ratio of 20-30%. With $STRD they might go even higher as this is their junk bond. Personally I would use only XX% of the target leverage capacity." @RoaringRagnar on X 2025-07-21 12:40:45 UTC 9629 followers, 5823 engagements
"Be honest have you sold native BTC to buy BTC Treasury Companies" @RoaringRagnar on X 2025-07-21 06:09:34 UTC 9629 followers, 3347 engagements
"Serious question how do you guys keep up with everything Im reaching my limits and to be honest have reached them a long time ago" @RoaringRagnar on X 2025-07-22 18:30:51 UTC 9629 followers, 13.3K engagements
"@Leo_HODL What period have you used for BYD It would be helpful to add this to the chart" @RoaringRagnar on X 2025-07-21 07:08:21 UTC 9614 followers, XXX engagements
"⚠ Open-Sourcing my Comparison Framework & Help Needed Due to popular demand I have now decided to open source my comparison framework. I've uploaded all the spreadsheets that I use for my comparisons to this public Google Sheets: My comparison is under "Ragnar Comparison" and the data source is "BTC Master Sheet". Help needed: Can someone help create a master sheet template that collects all data per single company Basically a generalized version of "BTC Master Sheet" worksheet for one company including all raises all cash balances all purchases all converts all debt all BTC Yields all" @RoaringRagnar on X 2025-07-19 13:22:29 UTC 9629 followers, 37.8K engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF Change log: - Added latest $SWC purchase - Added assumed fully diluted number of shares in addition to basic shares - Added Forward months to cover based on my estimation for Q3 BTC Yield It's slowly coming together. 😊 This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates." @RoaringRagnar on X 2025-07-11 09:10:57 UTC 9629 followers, 56.8K engagements
"Germany has its first Bitcoin Accumulation Machine" @RoaringRagnar on X 2025-07-08 08:25:29 UTC 9546 followers, 13.7K engagements
"@ColeMacro What will be the key consequences of so much Paper Bitcoin" @RoaringRagnar on X 2025-07-19 17:07:41 UTC 9613 followers, XXX engagements
"Summary of the $MSTR SEC filing July XX 2025: X. $XXXXX million raised from $MSTR ATM at $XXXXXX per share on average. $XXXXX billion capacity remaining. X. $XXXX million raised from $STRK ATM at $XXXXXX per share on average. New record. $XXXXX billion capacity remaining. X. $XXXX million raised from $STRF ATM at $XXXXXX per share on average. New record. $XXXX billion capacity remaining. X. $XX million raised from $STRD ATM at $XXXXX per share on average. New record. $XXXX billion capacity remaining. X. In total Strategy raised $XXXXX million from preferreds and continues to harvest the juicy" @RoaringRagnar on X 2025-07-14 12:26:45 UTC 9629 followers, 80.5K engagements
"BTC Treasuries Community Ranking July XX 2025 Link to spreadsheet:" @RoaringRagnar on X 2025-07-14 21:48:26 UTC 9629 followers, 30.7K engagements
"Can anyone summarize the $SQNS thesis for me I cant keep up with all those companies" @RoaringRagnar on X 2025-07-21 10:30:45 UTC 9629 followers, 15K engagements
"@AlexandreLaizet @_ALTBG 2000 BTC in reach 🔥" @RoaringRagnar on X 2025-07-21 06:10:55 UTC 9616 followers, XXX engagements
"My main metric for pair trading BTC Treasuries is FMC (in months) or Forward P/BYD (same number but in years). FMC means Forward Months to Cover mNAV. It's the number of months it takes to fully cover the Forward mNAV back to X. It's based on the Forward mNAV (which includes all cash ready to be deployed into Bitcoin) and my estimate of Q3 BTC Yield. I don't like to look backwards as the historical numbers are often skewed upwards for early companies or a little low for companies with a bad quarter (like ALTBG). Of course this is highly subjective. You can download my spreadsheet and include" @RoaringRagnar on X 2025-07-21 08:27:03 UTC 9629 followers, 2822 engagements
"35% sold native BTC to buy BTC Treasury companies. Full results of my poll:" @RoaringRagnar on X 2025-07-22 06:36:21 UTC 9629 followers, 1846 engagements
"A lot of people are selling BTC for Treasuries. Very interesting and something to keep in mind when BTC price takes a breather" @RoaringRagnar on X 2025-07-21 09:37:08 UTC 9629 followers, 2446 engagements
"YOLO PORTFOLIO UPDATE JULY XX 2025 Project $1M: XX% complete Added $PXI today. Super small super early risky but great potential. They have $13M CAD in cash & equivalents that they plan to fully port into Bitcoin. Note: This is my strict YOLO portfolio where I deliberately push the limits. Its a small part of my net worth. I still have my big HODL positions. Dont blindly copy me" @RoaringRagnar on X 2025-07-14 20:31:17 UTC 9550 followers, 12.9K engagements
"Current comparison between BTC Treasury companies: $MSTR $MTPLF $ALTBG $SMLR and $SWC Change log: - Added $SWC due to popular demand. - Added subjective BTC Yield Discount to account for small base I need help with $SWC: Is share count correct Do they have debt When was their first purchase and how much (ideally including source links where I can get the updated numbers in the future) I need help with $KULR: Can anyone provide me with all relevant data (ideally including source links where I can get the updated numbers in the future) This is all still very experimental and manual. Follow me" @RoaringRagnar on X 2025-05-26 13:46:55 UTC 9629 followers, 67.6K engagements
"Summary of the $MSTR SEC filing July XX 2025: X. $XXXXX million raised from $MSTR ATM at $XXXXXX per share on average. $XXXXX billion capacity remaining. X. $XXX million raised from $STRK ATM at $XXXXXX per share on average. XXXXX billion capacity remaining. X. $XXX million raised from $STRF ATM at $XXX per share on average (seems low Im pretty sure theres a rounding problem or an error there). $XXXX billion capacity remaining. X. $XXX million raised from $STRD ATM at $XXXXX per share on average. $XXXX billion capacity remaining. X. In total Strategy raised just $XXX million from preferreds" @RoaringRagnar on X 2025-07-21 12:21:47 UTC 9629 followers, 27.1K engagements
"Agree. X share price metrics are relevant: - fiat price - price in BTC - BTC per share" @RoaringRagnar on X 2025-07-19 10:34:43 UTC 9564 followers, 3694 engagements
"Sequans now holds 2317 BTC and became now the largest BTC holder in France 🤯" @RoaringRagnar on X 2025-07-21 10:28:37 UTC 9629 followers, 10.7K engagements
"@joey_cacciatore Thank you for posting this update. A great week indeed. Looking forward to the press release that confirms the deployment of the cash. Keep it up. 🔥" @RoaringRagnar on X 2025-07-20 12:58:52 UTC 9629 followers, 1352 engagements
"@Syffe92 My next ones will be $SQNS and $LQWD but honestly I'm already at my limit of what I can handle" @RoaringRagnar on X 2025-07-19 08:56:16 UTC 9565 followers, XXX engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $SMLR $ALTBG $KULR $SWC $HOGPF $CINGF I added X new community metrics: X. # of members in the largest company specific X community X. Member conviction score: Members per day since first BTC purchase X. Members per $1B of market cap This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback &" @RoaringRagnar on X 2025-07-05 08:09:43 UTC 9629 followers, 36.7K engagements
"@EneaDenkt @saylor @IIICapital @AlexandreLaizet @Kosanovic_V @dannyfonse @Bthemoon2030 @ZynxBTC I think you need at least 5000 BTC to even consider preferreds. Not everybody will be able to get to this stage" @RoaringRagnar on X 2025-07-17 20:53:47 UTC 9549 followers, XXX engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI Change log: - Added new purchases and raises from $MTPLF $ALTBG $PXI - Added $10M CAD estimated private placement raise of $BLGV (to be announced) to have a proper comparison with $PXI This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback & discussion" @RoaringRagnar on X 2025-07-15 14:44:57 UTC 9629 followers, 77K engagements
"I initiated a position today in $PXI. 0.87x Forward mNAV and XXX% BTC Yield so far after X purchases. Press releases: Join this community and follow @PlanetPXI" @RoaringRagnar on X 2025-07-14 18:30:00 UTC 9629 followers, 14.8K engagements
"Network effects matter. Not just for Bitcoin Spot ETFs but also for BTC Treasuries. Look at the difference in trading volume of $IBIT and everyone else. (see below) Its a factor 8.5x to 90x difference. The same will happen with BTC Treasuries. The ones with large volumes & large volatility and sustained healthy mNAV & BTC Yield will outperform the others with similar factors. Step X is to get to XXX BTC. Step X is to get to XXX BTC. Step X is to get to 2100 BTC Only the ones who get to 2100 BTC and have a clear path for further growth will have a shot at long-term success. The others will" @RoaringRagnar on X 2025-07-17 23:07:12 UTC 9602 followers, 34.7K engagements
"@gerovich Most shares on Interactive Brokers DN3 ticker. Please help to make sure that volume increases & spreads decrease for DN3 🙏🏻" @RoaringRagnar on X 2025-07-17 15:29:50 UTC 9629 followers, 10.6K engagements
"@greg16676935420 Nah. I will make probably way more than $17M in that year from the alpha I get on X" @RoaringRagnar on X 2025-07-20 12:54:22 UTC 9619 followers, XXX engagements
"Would you rather own all of Ethereum ($450B) or 3x all pure play public BTC Treasury companies (3 x $130B = $390B) and still have $60000000000 left over Crazy how incredibly undervalued BTC Treasuries are when compared to altcoins 🤯" @RoaringRagnar on X 2025-07-21 06:38:14 UTC 9629 followers, 3455 engagements
"$MSTR is now up XX% measured in $MTPLF. That means that for each $MSTR share you now get 1.6x the amount of $MTPLF shares compared to one month ago. This is the power of intelligent pair trading" @RoaringRagnar on X 2025-07-16 09:59:26 UTC 9606 followers, 16K engagements
"@PaulAustin3w Amazing. Hopefully more countries will follow this example 🔥" @RoaringRagnar on X 2025-07-18 22:22:46 UTC 9580 followers, XXX engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI Change log: - Added $PXI (beta) - Added all new purchases and raises - Updated community numbers This is all still very experimental & manual. Lots of improvements and ideas in the pipeline (thank you all for so much valuable feedback). If possible always provide the source and/or detailed calculations when suggesting corrections. Follow me @RoaringRagnar so you don't miss any updates. Feedback & discussion welcome" @RoaringRagnar on X 2025-07-14 22:22:53 UTC 9604 followers, 32.9K engagements
"Private placements or subscription rights are the cheat code for early stage BTC Treasury Companies. Imagine if HALF the capital that we all invested was not on the open market but in form of private placements or subscriptions. Then those early stage companies could have purchased hundreds of BTC more. Let's say someone wants to invest $100K. If they buy the shares on the open market then the shares simply change hands and the company doesn't get any new capital to purchase Bitcoin. If the $100K are invested via a private placement or subscription then the company gets new capital and can" @RoaringRagnar on X 2025-07-21 08:50:26 UTC 9629 followers, 4654 engagements
"@chrisoc9999 Yes $ALTBG looking very solid. Especially if they can substantially increase BTC Yield in Q3 which is my expectation" @RoaringRagnar on X 2025-07-10 23:18:10 UTC 9629 followers, XXX engagements
"I really like the unique positioning of $STRK. You are high in the capital structure have an $X fixed dividend and healthy upside participation. A great vehicle to potentially rotate profits into basically delevering & hedging while maintaining upside potential" @RoaringRagnar on X 2025-07-07 23:37:58 UTC 9629 followers, 5163 engagements
"YOLO PORTFOLIO UPDATE JULY XX 2025 Project $1M: XX% complete Starting to get into a nice rhythm. Almost all treasuries are down yet my yolo account is up 5%. Rotated some profits into $MTPLF (DN3). Goal is to have a good balance between higher risk and lower risk positions. I like my $SWC and $MTPLF positions in that regard. Note: This is my strict YOLO portfolio where I deliberately push the limits. Its a small part of my net worth. I still have my big HODL positions. Dont blindly copy me" @RoaringRagnar on X 2025-07-18 18:16:24 UTC 9629 followers, 18.2K engagements
"Its nuts what $SWC achieved in such a short period of time. 1600 BTC (+240 BTC in cash) in X months. Lets see whether they can keep up this pace" @RoaringRagnar on X 2025-07-21 07:00:39 UTC 9629 followers, 3636 engagements
"Latest Comparison of BTC Treasury Companies: $MSTR $MTPLF $ALTBG $SWC $HOGPF $CINGF $BLGV $PXI ⚠ BIG UPDATE (read below) Change log: - Added all new purchases and capital raises - Updated all cash balances (as well as I could) - Added fully diluted current mNAV (yellow highlight) - Added Forward P/BYD (green highlight) Discusson on P/BYD While I appreciate the new P/BYD metric by @Croesus_BTC and @asjwebley I prefer my "Forward Months to Cover" metric (highlighted in green). First it considers the Forward mNAV including the cash ready to be deployed into Bitcoin. And second it uses my Q3" @RoaringRagnar on X 2025-07-19 08:34:55 UTC 9629 followers, 84.1K engagements