đ„BITCOIN AND MSTR ARE PRIMED FOR MEGA EXPLOSIONđ„
The last time Bitcoinâs 200-day moving average crossed below its 200-week moving average, BTC was $20,590.
Exactly 492 days later, it reached $73,121, a 255.13% return.
If Bitcoin traded flat until the averages crossed again around November 2 and then repeated that move, it would reach approximately $226,029.
Now letâs apply that Bitcoin scenario to MSTR.
Strategy does not need to buy another Bitcoin for MSTR to reach $447.61.
Here is the deliberately brutal underwriting:
Bitcoin: $63,785 â $226,029
Bitcoin held: 843,775 â 843,775
mNAV: 1.0378x â 1.0378x
New Bitcoin purchased: Zero
Preferred dividends: $3.35 billion, funded by selling MSTR shares.
MSTR begins at $96.24.
Bitcoin repricing adds $244.80 per share.
Strategyâs debt and preferred claims are fixed in dollars. As Bitcoin appreciates, those claims collapse from 284,630 BTC-equivalent to 80,322 BTC-equivalent.
That fixed-claim compression adds another $124.61 per share.
Funding the preferred dividends increases shares from 384.6 million to 400.1 million and subtracts $18.03 per share.
The bridge:
$96.24
+$244.80 from Bitcoin repricing
+$124.61 from claim compression
â$18.03 from dividend dilution
=$447.61
Despite the dilution, common-equity sats per share rise from 145,386 to 190,820.
That is a 31.3% increase without acquiring another satoshi.
Bitcoin returns 254.4%.
MSTR returns 365.1%.
The same $1 becomes $3.54 in Bitcoin or $4.65 in MSTR.
That is 110.7 percentage points of outperformance with zero mNAV expansion, zero new Bitcoin purchases and billions fed into the preferred-dividend furnace.
The asset is Bitcoin. The liabilities are fixed in dollars.
One side of the balance sheet is chained to the floor while the other is attempting to leave the atmosphere:
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đBITCOIN IS GOING TO ABSOLUTELY MOONđ
The last time Bitcoinâs 200-day moving average crossed BELOW its 200-week moving average, every chart goblin on Earth began measuring the coffin.
Bitcoin was $20,590.
Exactly 492 days later, it reached $73,121.
That was a 3.55x.
A 255.13% return.
Today:
Bitcoin: $63,647 200-day SMA: $71,729 200-week SMA: $63,552
The averages are now $8,178 apart and converging rapidly.
If Bitcoin traded completely flat, they would cross around November 2, 2026.
Only then would the historical clock begin.
Apply the previous move over the exact same 492-day window following that crossover:
$63,647 â $226,029 November 2, 2026 â March 8, 2028
History owes us nothing. But the last time this âbearishâ crossover appeared, Bitcoin had already finished digging the grave, buried the sellers inside it, and quietly installed a launchpad over the cemetery.
Sometimes the death cross is the starting gun:
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