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[@ToTheMadMax](/creator/twitter/ToTheMadMax)
"Assets flow from weak over leveraged hands to strong hands. $19bn liquidated. $5bn to BlackRock"  
[X Link](https://x.com/ToTheMadMax/status/1977012366945796116) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-11T14:04Z 1227 followers, XXX engagements


"@jeffgoldsmith23 @HermesLux Kind of irresponsible to say when they have 5765 BTC $NAKA and 5886 BTC $ASST. No way they go to zero unless BTC goes to zero which obviously isn't happening"  
[X Link](https://x.com/ToTheMadMax/status/1978483120102904268) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-15T15:28Z 1227 followers, XXX engagements


"@PCPhil1886 @ColeMacro $ASST He did just make a comment indirectly. Still not the comment I'm looking for on highlighting the $500m buyback plan nor open market purchases from management either of which would cement that they truly think it's a bottom. But it's a small start"  
[X Link](https://x.com/ToTheMadMax/status/1979181750161961206) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-17T13:44Z 1227 followers, XXX engagements


"$ASST Once the dust settles from the PIPE unlock (next week) and the $SMLR merger (whenever that closes) reminder that Strive will have open both a $450m ATM to issue shares (which they may have been using in the past several weeks) and a $500m share repurchase program to buyback shares if they get too low (which they probably have NOT been using yet). Lots of optionality to manage cash vs share price and Bitcoin holdings. Getting much closer to the $XXXX PIPE price now"  
[X Link](https://x.com/ToTheMadMax/status/1976697111853900156) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-10T17:11Z 1226 followers, 1560 engagements


"@Mutualfundtrade 10934 bitcoin to be exact on that at least.5886 at $ASST and 5048 from $SMLR merger once it closes"  
[X Link](https://x.com/ToTheMadMax/status/1976756514754117667) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-10T21:07Z 1226 followers, XXX engagements


"@CK_Cryptoklepto I think $SMLR is pricing $ASST more correctly actually. Last week it was pricing ASST around 1.3's this week XXX. That's around mNAV while ASST itself overshot because of the PIPE unlock dynamics. Should trend back up to 1.2-1.3s that SMLR has pegged it at imho"  
[X Link](https://x.com/ToTheMadMax/status/1977776388930208043) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-13T16:40Z 1226 followers, XXX engagements


"@CK_Cryptoklepto Yeah initial talks 9/8. Final agreement 9/22. Pgs126-131 of the S-4 has the full blow by blow with valuations ranging from 10ish shares to XXXX shares w/ final pegged at XXXXX $ASST. LionTree Advisors whatever their experience seemed to advise $SMLR"  
[X Link](https://x.com/ToTheMadMax/status/1977780090978066771) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-13T16:54Z 1226 followers, XXX engagements


"@thepowerfulHRV Perhaps but with a $5bn ATM open at $NAKA who'd want to buy when the company will be happy to dilute you to hell. At least $ASST has a $500m buyback plan as a lever to support the price. The question is when they will use it which I'd like clarification @BenPhiat @ColeMacro"  
[X Link](https://x.com/ToTheMadMax/status/1977782446511784067) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-13T17:04Z 1226 followers, 1713 engagements


"$ASST Just as relevant for Strive which is now trading below mNAV and even further below proforma fully diluted mNAV for the $SMLR merger (which is XX% accretive to Strives mNAV). Sentiment is terrible right now but will recover and with it the stock price. Especially if they can execute on their Bitcoin yield promise. As an interesting side note it looks like $SMLR is actually trading much closer to the proforma combined mNAV. $ASST should trade up to it as well as the merger progresses. In the off chance it falls apart Strive receives a $49m termination payment which is still about 8%"  
[X Link](https://x.com/ToTheMadMax/status/1979518833389113568) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-18T12:04Z 1226 followers, 1176 engagements


"@MichaelBoy64231 Fall guy for poor dealmaking on $SMLR's side. Was accretive to $ASST's mNAV or get $49m termination payment if it doesn't go through"  
[X Link](https://x.com/ToTheMadMax/status/1980264523765256479) [@ToTheMadMax](/creator/x/ToTheMadMax) 2025-10-20T13:27Z 1226 followers, XXX engagements