Bitcoin and Strategy offer an unparalleled and underappreciated setup now that the issue around Strategy's STRC preferred is largely resolved. x.com 

Shell's stronger refining profits and larger buyback support the view that its breakout holds. Q3 adjusted earnings reached $10.8 billion versus $9.9 billion expected, as refining margins hit a record $42 a barrel; the three-month buyback rises from $3 billion to $5 billion. Those margins will not last forever. x.com 

The loss of forced ETF buying increases the likelihood Strategy will trade at a discount to the value of its bitcoin holdings. WatcherGuru reports MSCI plans to remove Strategy from its indexes. x.com  x.com 

Strategy offers more upside than bitcoin because it is levered through fixed-dollar convertible debt and preferred equity: if bitcoin reaches $220,000 in 2028-29, it could deliver a much higher percentage return. It should benefit whenever bitcoin flips above $100,000 in the next few years. It can also fall twice as much as bitcoin, so holders must avoid getting stopped out. x.com  x.com 

Heavy inflows could lift Strive's mNAV above Strategy's for periods because they have more impact on the smaller company. Strive could do even better than 6x versus Strategy's 4x, as investors seek the faster Bitcoin treasury stock. x.com  x.com  x.com 

Falling STRC prices raise its effective yield, increasing Strategy's dividend burden and tying the instrument to occasional Bitcoin sales despite its large holdings. Saylor is promoting STRC's 12% yield paid twice a month, and the higher it is, the faster Strategy sells Bitcoin. Replying to @Blockcastcc's report of Peter Schiff's warning that Bitcoin could fall toward $20,000, Strategy should sell everything and repay: preferred holders can be paid, but common holders would be wiped out. x.com  … Show more

Strategy offers prime risk/reward here unless Bitcoin keeps moving deeply lower. Saylor affirmed the company can pay its dividend for over two years and will prioritize always holding 12 months of dividend cash, alongside a new Digital Credit Capital Framework. Last week's FUD over Saylor, Strategy and its STRC preferred produced a strong candle below the prior low into a key demand area from the previous cycle, yet the stock kept its weekly bullish divergence. x.com 

Strategy is early below 1.5x its bitcoin net asset value, and the crowded short-Strategy, long-bitcoin trade is about to blow up, setting off short covering. Upcoming catalysts include STRC trading back at par, an Iran resolution with no rate hikes, and a momentum rotation into crypto after its underperformance relative to overpriced and crowded AI and software stocks. x.com 

Strategy needs a solid bid to preserve the premium that funds its bitcoin purchases. MSCI's new rules could eject it from global indexes and force passive selling; JPMorgan estimates $2.8 billion in Strategy share sales if that happens, or up to $8.8 billion if others follow. Without the premium, it cannot raise funds to buy bitcoin. Watch whether the rules bite on November 30. x.com 

Strategy offers good asymmetry, since it would probably outperform drastically if bitcoin has finally bottomed and moves significantly higher. The stock refuses to go lower despite bearish headlines and a complete lack of faith in management, even though its corporate structure is not the best. x.com