Notes from the numbers

Strategy Q2 2026 Earnings Call: An $8.2 Billion Loss, a Retired Doctrine, and One Number That Matters More Than Any of It

Strategy's Q2 2026 earnings call in detail — the $8.32bn unrealized bitcoin loss, 843,775 BTC held, the retired never-sell doctrine, and the plan to return STRC to par by September.

Bitcoin Price Prediction Methods: Which Ones Actually Work, and Which Are Just Hype

Stock-to-Flow, the Power Law, Metcalfe's Law, on-chain MVRV and the four-year cycle — an honest look at the five most popular bitcoin price prediction methods, their track records, and whether any of them are usable.

Why Strategy (MSTR) Chose Bitcoin Over Gold

Saylor admits any asset can back digital credit — gold, real estate, anything. Here's the math on why Strategy still chose Bitcoin for 843,775 BTC.

Bitcoin's Institutional Takeover: ETFs, Bank Vaults, Yield Machines, and the Nations Quietly Stacking

The New Bitcoin Yield Instruments:Where BITA Competes With Strategy's Preferreds

BlackRock's BITA targets 15–25% yields from Bitcoin. Where it competes with STRC, STRF, STRK and STRD — and the one thing it can never offer: a price target

Bitcoin Hash Rate, Explained: How Raw Computing Power Secures the Network

What is Bitcoin's hash rate, why did it cross 1 zettahash per second, and how does raw computing power make the network practically unattackable? Full 2026 guide.

BTC vs MSTR: the same bet at two different prices

Bitcoin is the asset. MSTR is a leveraged wrapper around it — and in 2026 it trades below the coins inside. Beta, drawdowns, mNAV, and what history shows.

What is Strategy (MSTR)? The bitcoin treasury company, explained

How MicroStrategy became Strategy — a company that turned its balance sheet into a bitcoin treasury — and why its stock now trades on bitcoin.

MSTR vs a spot bitcoin ETF: what's actually different

Spot bitcoin ETFs track the coin one-to-one. MSTR doesn't — it carries a premium, uses leverage, and moves more. Here's the honest comparison.

Holding MSTR vs holding bitcoin directly: custody, control, and taxes

Buying MSTR gives you bitcoin exposure inside a brokerage account — no keys, no self-custody. Here's what you gain and what you give up versus owning the coin.

Reading the mNAV premium: when has MSTR looked cheap or expensive?

mNAV compares MSTR's value to the bitcoin it holds. Above 1.0 you're paying a premium; below, a discount. Here's how to read the premium over time.

MSTR Below Its Bitcoin: What the Panic Misses

MSTR trades at a discount to the bitcoin it holds — a rare and closely-watched dislocation. Here's what actually changed, and what the panic narrative leaves out