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# ![@hillery_dan Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1593430331008376832.png) @hillery_dan Dan Hillery

Dan Hillery and others are discussing the potential of MicroStrategy's (MSTR) preferred stock, particularly STRK and STRF, as a stable source of income and a hedge against market volatility. The conversation highlights the benefits of MSTR's bitcoin-backed fixed income and the potential for capital appreciation in its preferred stock. Analysts are optimistic about the prospects of STRK and STRF, citing their perpetual nature and potential for sustainable, non-decaying income.

### Engagements: XXXXX [#](/creator/twitter::1593430331008376832/interactions)
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- X Month XXXXXXXXX +33%
- X Months XXXXXXXXX +20%
- X Year XXXXXXXXXX +498%

### Mentions: XX [#](/creator/twitter::1593430331008376832/posts_active)
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- X Month XXX +10%
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- X Year XXXXX +49%

### Followers: XXXXXX [#](/creator/twitter::1593430331008376832/followers)
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- X Week XXXXXX +0.21%
- X Month XXXXXX +1.80%
- X Months XXXXXX +33%
- X Year XXXXXX +329%

### CreatorRank: XXXXXXXXX [#](/creator/twitter::1593430331008376832/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1593430331008376832/c:line/m:influencer_rank.svg)

### Social Influence [#](/creator/twitter::1593430331008376832/influence)
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**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  XXXX% [finance](/list/finance)  XXXX% [stocks](/list/stocks)  XXXX% [fashion brands](/list/fashion-brands)  XXXX% [countries](/list/countries)  XXXX% [exchanges](/list/exchanges)  XXXX%

**Social topic influence**
[bitcoin](/topic/bitcoin) #5345, [mstr](/topic/mstr) #413, [dip](/topic/dip) #1510, [market cap](/topic/market-cap) 0.41%, [vix](/topic/vix) #574, [its just](/topic/its-just) 0.21%, [bitcoins](/topic/bitcoins) 0.21%, [cash flow](/topic/cash-flow) 0.21%, [vehicles](/topic/vehicles) 0.21%, [spx](/topic/spx) XXXX%

**Top accounts mentioned or mentioned by**
[@joshmandell6](/creator/undefined) [@z06z07](/creator/undefined) [@punterjeff](/creator/undefined) [@stellareconomy](/creator/undefined) [@masonfoard](/creator/undefined) [@ryquant](/creator/undefined) [@jberneburg](/creator/undefined) [@latinasnbtc](/creator/undefined) [@80iqmindset](/creator/undefined) [@mstrtruenorth](/creator/undefined) [@pizzaluv](/creator/undefined) [@realjimchanos](/creator/undefined) [@realtrollstein](/creator/undefined) [@danieldrunion](/creator/undefined) [@marktmaxwell](/creator/undefined) [@hillerydan](/creator/undefined) [@macroresurf](/creator/undefined) [@strategy](/creator/undefined) [@timkotzman](/creator/undefined) [@docstacks](/creator/undefined)

**Top assets mentioned**
[Bitcoin (BTC)](/topic/bitcoin) [MARA Holdings, Inc. (MARA)](/topic/$mara) [Rio Tinto plc (RIO)](/topic/rio-tinto) [Lockheed Martin Corporation (LMT)](/topic/lockheed-martin) [Strategy (MSTR)](/topic/$mstr)
### Top Social Posts [#](/creator/twitter::1593430331008376832/posts)
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Top posts by engagements in the last XX hours

"Bitcoin's not dead it's just behaving"  
[X Link](https://x.com/hillery_dan/status/1978141865422520663) [@hillery_dan](/creator/x/hillery_dan) 2025-10-14T16:52Z 20.3K followers, 4087 engagements


"That's the problem a BTC treasury's only value add IS LEVERAGE. In the old days of MSTR it was cheap leverage funded by free cash flow"  
[X Link](https://x.com/hillery_dan/status/1978283915094679811) [@hillery_dan](/creator/x/hillery_dan) 2025-10-15T02:16Z 20.3K followers, 25.9K engagements


"SPX and BTC correlation may trend lower after this brief dip while equities stall and BTC rips higher in isolation"  
[X Link](https://x.com/hillery_dan/status/1977477207678189909) [@hillery_dan](/creator/x/hillery_dan) 2025-10-12T20:51Z 20.3K followers, 3709 engagements


"Starting to get expensive I think BTC volatility starts catching up to implied volatility"  
[X Link](https://x.com/hillery_dan/status/1975287935894434042) [@hillery_dan](/creator/x/hillery_dan) 2025-10-06T19:51Z 20.3K followers, 20.1K engagements


"Dip is also fake because MSTR down less than btc"  
[X Link](https://x.com/hillery_dan/status/1976716206104064148) [@hillery_dan](/creator/x/hillery_dan) 2025-10-10T18:27Z 20.3K followers, 30.2K engagements


"MSTR & BTC Volatility Hurdle Rate When running a securities issuance fund that swaps BTC vol for fixed income returns the issuing corporation must be hyper aware of the volatility of each of their securities. I've talked before about the volatility of STRF & STRK being too high (at least for the time being) for the large majority of professional fixed income investors. STRC is an attempt to flatten out this volatility; a stable principle fixed income instrument that sucks in cash from money market funds. Again it's really a question of volatility which people tend to conflate with risk. When"  
[X Link](https://x.com/hillery_dan/status/1954973624261136722) [@hillery_dan](/creator/x/hillery_dan) 2025-08-11T18:30Z 20.3K followers, 6222 engagements


"2023. BTC tripled"  
[X Link](https://x.com/hillery_dan/status/1978913490564960676) [@hillery_dan](/creator/x/hillery_dan) 2025-10-16T19:58Z 20.3K followers, 11.7K engagements


"Chart on the left is price performance. Chart on the right is Implied Volatility (which is becoming increasingly important as things heat up). Right now I am sitting in calls for the two which are the lowest in both metrics. Favorite remains CLSK even at these prices. They do it right no dilution lots of power small market cap right on the cusp of AI transition colocated power. I'll take that bet over the ones which have already shown all their cards. Bet on uncertainty sell the news"  
[X Link](https://x.com/hillery_dan/status/1977500112453509122) [@hillery_dan](/creator/x/hillery_dan) 2025-10-12T22:22Z 20.3K followers, 5029 engagements


"A XX CAGR asset doubles every XXX years on average. BTC terminal CAGR. Thanks for playing"  
[X Link](https://x.com/hillery_dan/status/1977526540809158670) [@hillery_dan](/creator/x/hillery_dan) 2025-10-13T00:07Z 20.3K followers, 84.3K engagements


"The abundance of software and intelligence should make it ever more evident that proof of work is the only way to create true digital scarcity. Energy must be sacrificed for security and consensus or else there is actually no value locked in an immutable ledger since in an abundant world energy is always finite even if it's cost does in fact trend to zero. If energy has no value then nothing has value maybe attention actually"  
[X Link](https://x.com/hillery_dan/status/1975675640327135306) [@hillery_dan](/creator/x/hillery_dan) 2025-10-07T21:32Z 20.3K followers, 4429 engagements


"There are certain winners which you want to hold through fear and uncertainty there are others where the upside no longer exists and the downside and risk outweighs the upside. In those scenarios sell"  
[X Link](https://x.com/hillery_dan/status/1978282419712090578) [@hillery_dan](/creator/x/hillery_dan) 2025-10-15T02:10Z 20.3K followers, 11.5K engagements


"Everyone underestimating melt up scenario with bullish policy into unprecedented AI CapEx spend. Commodities perform in line with PMI's. I'll take the digital commodity"  
[X Link](https://x.com/hillery_dan/status/1972706422107275468) [@hillery_dan](/creator/x/hillery_dan) 2025-09-29T16:53Z 20.3K followers, 6429 engagements


"STRC/STRF strength remarkable. STRF is the apex asset when it comes to MSTR's Bitcoin stack"  
[X Link](https://x.com/hillery_dan/status/1978935982889275700) [@hillery_dan](/creator/x/hillery_dan) 2025-10-16T21:27Z 20.3K followers, 10.2K engagements


"There is a world in which we have a short term glut in chip manufacturing but a shortage in grid infrastructure and energy. What this does to broader equities markets no clue but it should push PMI's higher. All plays into the same idea that inflation risk is higher than employment risk here. Hard scarce assets and those companies which hold control over them"  
[X Link](https://x.com/hillery_dan/status/1975676448871751864) [@hillery_dan](/creator/x/hillery_dan) 2025-10-07T21:35Z 20.3K followers, 3971 engagements


"Running the book"  
[X Link](https://x.com/hillery_dan/status/1976462959993028774) [@hillery_dan](/creator/x/hillery_dan) 2025-10-10T01:41Z 20.3K followers, 5969 engagements


"Interesting thought experiment leverage on a XX% cagr asset"  
[X Link](https://x.com/hillery_dan/status/1975926896207462405) [@hillery_dan](/creator/x/hillery_dan) 2025-10-08T14:10Z 20.3K followers, 3104 engagements


"Bitcoin vs. VIX Using Equity Volatility to hedge BTC Risk: This first chart tabulates the rolling correlation between the VIX (CBOE volatility index) and Bitcoin. Negative correlation means that if the price of BTC goes down then the price of the VIX goes up. The chart below shows that there is a small but statically significant anti-correlation between the two. Therefore while VIX calls could hedge against BTC downside it's not very effective as a strict hedge. Now below is the correlation between the SPX and the VIX. This value is closer to -XXX which is expected. This means that when the"  
[X Link](https://x.com/hillery_dan/status/1977523736480723267) [@hillery_dan](/creator/x/hillery_dan) 2025-10-12T23:56Z 20.3K followers, 3543 engagements


"Stravera Capital Research Note Ticker: MARA (Marathon Digital Holdings) Date: September XX 2025 Initiate Long: $XX Entry Base Target: $XX (71% Upside) Bull Target: $XX (386% Upside) Investment Thesis Marathon Digital ($MARA) is the convex liquid focal point among Bitcoin minersan attractor in end-cycle tournament play where failing to own it is a dominant strategy. With a 50000 BTC treasury ($5.65B at $113K BTC) sub-$33K cash costs and the deepest options liquidity in the sector MARA offers leveraged Bitcoin convexity poised for gamma squeezes and NAV re-ratings as the cycle transitions into"  
[X Link](https://x.com/hillery_dan/status/1970596131722629477) [@hillery_dan](/creator/x/hillery_dan) 2025-09-23T21:08Z 20.3K followers, 23K engagements


"Markets have called bluff. We live in a banana republic"  
[X Link](https://x.com/hillery_dan/status/1977500969476014153) [@hillery_dan](/creator/x/hillery_dan) 2025-10-12T22:25Z 20.3K followers, 17.5K engagements


"With a rolling XX day correlations of XXX QQQ and BTC do not move in lock step by any means. I think there is a real possibility of another couple months of aggressive outperformance or catch up of BTC relative to our favorite AI spac index QQQ"  
[X Link](https://x.com/hillery_dan/status/1977851532168032687) [@hillery_dan](/creator/x/hillery_dan) 2025-10-13T21:38Z 20.3K followers, 4380 engagements


"Will reassess my end of year call spreads mid to late October. Right now I am targeting a 140k BTC price early December with slight increase in Implied Volatility. This is the expected payoff of a one of my call spreads apart of my ladder. I'll take that bet over the next couple months so long as we get moving within the next XX days"  
[X Link](https://x.com/hillery_dan/status/1971647768553799991) [@hillery_dan](/creator/x/hillery_dan) 2025-09-26T18:47Z 20.3K followers, 2979 engagements


"Step X read STRF prospectus Step X determine whether or not Strategy's Bitcoin works for the STRF shareholder Step X look at STRF yield Step X Buy STRF"  
[X Link](https://x.com/hillery_dan/status/1977777318740553776) [@hillery_dan](/creator/x/hillery_dan) 2025-10-13T16:43Z 20.3K followers, 12K engagements


"A put on MSTR is pretty much a credit default swap on the prefs"  
[X Link](https://x.com/hillery_dan/status/1961828575465685120) [@hillery_dan](/creator/x/hillery_dan) 2025-08-30T16:29Z 20.3K followers, 8632 engagements


"Strategy's STRC volume that's weird. @MSTRTrueNorth STRC's volume relative to equities with roughly $100B market cap. Examples: -American Tower (2.4M shares $98.4B market cap) -Rio Tinto (2.1M shares $101.7B market cap) -Prologis (1.5M shares $101.1B market cap) -Lockheed Martin (1.1M shares $100.0B market cap) Volume-to-Market Cap Ratios: STRC: XXXX% (2.6M shares / $2.8B market cap) MSTR : XXXX% (13.5M shares / $106.5B market cap) Average $100B stock: XXXX% STRC has the type of volume to go the distance"  
[X Link](https://x.com/hillery_dan/status/1953125935626031456) [@hillery_dan](/creator/x/hillery_dan) 2025-08-06T16:08Z 20.3K followers, 28.5K engagements


"Strategy Preferred Equity Vs. Traditional Corporate Debt"  
[X Link](https://x.com/hillery_dan/status/1976280582125765027) [@hillery_dan](/creator/x/hillery_dan) 2025-10-09T13:36Z 20.3K followers, 87.9K engagements


"BTC/GOLD will pull BTC up. Same with equities up and dollar down. Same Trade just need to blow through profit takers"  
[X Link](https://x.com/hillery_dan/status/1976018415329608164) [@hillery_dan](/creator/x/hillery_dan) 2025-10-08T20:14Z 20.3K followers, 6150 engagements


"Cycles broken Power Law Trend Trajectory & Energy"  
[X Link](https://x.com/hillery_dan/status/1978140392865268012) [@hillery_dan](/creator/x/hillery_dan) 2025-10-14T16:46Z 20.3K followers, 8046 engagements


"Contrarian opinion Strategy prefs don't get crushed in a bear market. MSTR common probably crushed in a bear market"  
[X Link](https://x.com/hillery_dan/status/1976507605842268403) [@hillery_dan](/creator/x/hillery_dan) 2025-10-10T04:38Z 20.3K followers, 13.5K engagements


"Strategy's pref ex dividend date occurs next week. Setting up some trades Tuesday Sep X 2025"  
[X Link](https://x.com/hillery_dan/status/1965270677256372314) [@hillery_dan](/creator/x/hillery_dan) 2025-09-09T04:26Z 20.3K followers, 11.8K engagements


"Bull market continues will BTC/gold and BTC/qqq stay depressed. Really isnt that complicated. TA doesnt matter right now thank you for your attention to this matter. Looking at leverage positioning and call skew / implied volatility everything else is noise"  
[X Link](https://x.com/hillery_dan/status/1974295363692409274) [@hillery_dan](/creator/x/hillery_dan) 2025-10-04T02:07Z 20.3K followers, 5543 engagements


"September XX 2025 Dear Stravera Capital LP's and to whom this letter may be of interest. This months letter focuses on recession risk PMIs the new AI business cycle and the Bitcoin markets temperature. The recent underperformance of Bitcoin relative to the Nasdaq has been disconcerting. By analyzing Bitcoin cycles in the context of the business cycle the past nine months of underperformance become more understandable. With gold and equities breaking out Ill outline below why the trend remains positive. If I believed there were serious downside risks to the business cycle or particularly to"  
[X Link](https://x.com/hillery_dan/status/1972488971415416882) [@hillery_dan](/creator/x/hillery_dan) 2025-09-29T02:29Z 20.3K followers, 19.5K engagements


"Weak jobs are bullish long term BTC through 2026 cycles are completely over"  
[X Link](https://x.com/hillery_dan/status/1978097026140082494) [@hillery_dan](/creator/x/hillery_dan) 2025-10-14T13:54Z 20.3K followers, 8515 engagements


"Only thing green is the Vix"  
[X Link](https://x.com/hillery_dan/status/1978097190795960715) [@hillery_dan](/creator/x/hillery_dan) 2025-10-14T13:54Z 20.3K followers, 5530 engagements


"Share buybacks for a BTC treasury is a defense mechanism. It's not offense it's not even really that productive unless financed through operating income thanks"  
[X Link](https://x.com/hillery_dan/status/1977461413854552111) [@hillery_dan](/creator/x/hillery_dan) 2025-10-12T19:48Z 20.3K followers, 3543 engagements


"O.9 mnav for a spac that holds BTC with no operating company and expensive payrolls and corporate risk and no leverage is not deep value"  
[X Link](https://x.com/hillery_dan/status/1978098736208183745) [@hillery_dan](/creator/x/hillery_dan) 2025-10-14T14:01Z 20.3K followers, 23.2K engagements