Base Case Capital retweeted
$1.8T Franklin Templeton to launch two 95% stock / 5% Bitcoin ETFs.
• Stock dividends go into Bitcoin.
• One tracks S&P 500, the other Nasdaq 100.
Base Case Capital retweeted
A new source of BTC demand is emerging.
BTC-focused perpetual preferred stocks have accumulated more than 135,000 BTC in just over a year, despite representing only a fraction of the global fixed income market.
What could happen if adoption expands?
🔗 Read our latest research: go.fidelity.com/ernlPz
Base Case Capital retweeted
JUST IN: BILLIONAIRE MICHAEL SAYLOR JUST SAID HE IS BUILDING A #BITCON STABLECOIN THAT WILL REVOLUTIONIZE MONEY
"WHO DOESN'T WANT A STABLECOIN THAT PAYS 8%?"
"WHY WOULD YOU HOLD STABLECOINS THAT PAY YOU NOTHING?"
"THAT'S PERFECT MONEY – DIGITAL MONEY PEGGED TO THE US DOLLAR. A MEDIUM OF EXCHANGE, UNIT OF ACCOUNT AND STORE OF VALUE"
"THIS IS WHAT WE'RE CHASING AFTER" 🔥
Source: @paraficapital
Two Bitcoin treasury companies reported today.
Night and day.
One is getting simpler. The other more complicated.
Company A has its warrants clearing, buys Bitcoin every week and simplified its capital structure. It retired all its debt. Its stated goal is one amplification instrument and nothing else.
Every week it publishes a table with cash, BTC holdings, both share classes, warrants outstanding and preferred count.
You can essentially rebuild its entire capital structure from one filing.
Company B announced a convertible bond where the conversion price isn't set yet, a buyback executed off-market and the CEO lending 55 million personal shares to the bookrunners on terms it didn't disclose.
That sits on top of 5 warrant series, a convertible preferred, Bitcoin collateralised loans and a fixed management option pool that grows as a percentage with every share they buy back.
It is also in the middle of closing a deal for a company in another jurisdiction so it can run a second Bitcoin treasury inside of the first one.
Guess which one trades at a premium.
"AI is going to demonetize a lot of equities based on labor and talent. Capital investors are going to look for things that the robots can’t make more of." bitcoin:native
Bitcoin is raw financial energy. Strategy transforms it into Digital Credit.
At noon today, I joined @TimSteno and @CarolMassar on Bloomberg @Crypto to discuss Bitcoin’s bull market setup, AI and scarcity, and the future of Digital Credit.
00:48 - Bitcoin bull market setup: headwinds rotating into tailwinds
01:55 - AI, scarce capital, and assets robots cannot create
03:05 - Digital Capital, Digital Credit, and Strategy’s outperformance
04:16 - Bitcoin as raw financial energy
06:32 - Strategy as a structured finance company: Bitcoin, dollars, equity, and credit
08:49 - Bull market strategy: acquiring Bitcoin and issuing Digital Credit
10:20 - Investor time horizons: money markets, $STRC, $BTC, and $MSTR
12:26 - Strategy’s advantage: high-performance Digital Credit built on high-performance capital
Base Case Capital retweeted
They’re going to print $1.3 trillion to win midterms and send asset prices flying while simultaneously printing the lower class into even deeper poverty.
The poor will think they’re getting rich but they’re actually becoming impoverished.
This is some hunger games type shit.
Readers added context they thought people might want to know
Important context needed: Trump previously promised 2 dividends and never followed through.
In early 2025, Trump publicly backed a roughly $5,000 “DOGE dividend”
In November 2025, he promised a $2,000 “tariff dividend”
newsweek.com/every-dividend…
Base Case Capital retweeted
Michael Saylor has gone through his second year-long bitcoin bear market and come out with 4% of all the bitcoin, billions in USD cash, & close to zero net debt, all while relentlessly posting AI memes every day.
Haters in shambles.
Strategy has acquired 250 $BTC and repurchased $192M of $STRC. As of 10/11/26, we hold 848,250 BTC and $5.5B of USD Assets. $MSTR strategy.com/press/strategy-…
Base Case Capital retweeted
Technical moats are mostly over at this point. If you’re building something that is meant to be durable, the only moats now are:
• Proprietary data
• Network effects
• A physical component
Base Case Capital retweeted
The Dollar will ultimately collapse but the below is absolutely true.
In the end, America wins because they have all the compute and intelligence, and any country that wants their economy to function will be forced to lease it from them.
One way to think about the Dollar situation is the USD as reserve currency resulted in manufacturing being offshored due to relative USD strength (resulting in them becoming an importer nation), but now they are trying to reverse that situation through a massive compute build out...
So that when the Dollar does collapse they still have the compute, which is all anyone will care about in the Age of Intelligence.
It's a massive onshoring effort right before the USD Ponzi collapses, but not of the old school manufacturing type, of compute (data centres) instead.
When the Dollar does collapse, all the US has to do is get the G20 together (all of whom are also largely bankrupt) and say
"Hey guys, yeah look that whole Dollar system was a bit of a Ponzi, we get that now, but here's what's gonna happen. If you want your economy to survive you need our compute. We will lease X% to you if you agree to the following terms of the new financial system."
And overnight a new monetary system will be born.
Anyone that doesn't agree will be the equivalent of an isolated tribe in the Amazon; unable to access superintelligence nor humanoids. Functionally third world.
Replying to @redaction
Americans are probably okay, the rest of the world will be paying us in order to access true super-intelligence. Not to mention all the medical breakthroughs that people world wide will come to America for.
Base Case Capital retweeted
POV:
Me when Bitcoin dips and the 40K gang starts chirping in my timeline again.
Base Case Capital retweeted
Marco Rubio: “We preoccupy ourselves more with the comfort of the worst than the potential of the best. We hold the most exceptional things among us hostage to the average.”
.@SecRubio: "Too often, these days, we build downwards. We design our standards to ensure that no one will lose. We preoccupy ourselves more with the comfort of the worst than the potential of the best. We hold the most exceptional things among us hostage to the average."
Base Case Capital retweeted
If you are wondering what state of the fiat experiment we are at, it's the one where they are saying the quiet part out-loudly and proudly in a last ditch effort to normalize the only escape route the government is willing to take.
Watcher.Guru@WatcherGuruOct 2🇺🇸
United StatesConnected via WebAccount-level information, not a live location or per-post device.
JUST IN: 🇺🇸 President Trump says inflation could pay down the $40 trillion US national debt "very rapidly."
Base Case Capital retweeted
NEW: $15 trillion BlackRock says AI agents may choose to save in #Bitcoin for "long-term value preservation" 👀
"These findings ... point to a potential AI-native monetary architecture in which stablecoins serve as transactional money and bitcoin as a store of value." 👏
Base Case Capital retweeted
By the time Bitcoin is consensus, volatility will have done its job.
It will have transferred the asset from people who needed reassurance to people who understood what they owned.
bitcoin:native
































