Jeff Park
@dgt10011.bsky.social
Head of Alpha Strategies @BitwiseInvest.Radical Portfolio Theory™Investor. Riverain Purveyor of exotic goods & esoteric services. ex-@morgenstanley@stanford
You cant understand $MSTR w/o understanding the below chart: the asymptotic gamma flip.
At some deterministic point, it's "cheapness" at an extreme level is paradoxically what will make it very "rich". The path, and the speed along the way, is everything.
Still early. Higher.
At some deterministic point, it's "cheapness" at an extreme level is paradoxically what will make it very "rich". The path, and the speed along the way, is everything.
Still early. Higher.
December 31, 2024 at 5:14 AM
You cant understand $MSTR w/o understanding the below chart: the asymptotic gamma flip.
At some deterministic point, it's "cheapness" at an extreme level is paradoxically what will make it very "rich". The path, and the speed along the way, is everything.
Still early. Higher.
At some deterministic point, it's "cheapness" at an extreme level is paradoxically what will make it very "rich". The path, and the speed along the way, is everything.
Still early. Higher.
The magic of compound interest is time.
Which means the sin of compound interest is haste.
Don't take it from me; take it from Ross Stevens:
Which means the sin of compound interest is haste.
Don't take it from me; take it from Ross Stevens:
December 31, 2024 at 5:13 AM
The magic of compound interest is time.
Which means the sin of compound interest is haste.
Don't take it from me; take it from Ross Stevens:
Which means the sin of compound interest is haste.
Don't take it from me; take it from Ross Stevens:
$SHCO “going private” is giving me strong WeWork vibes
December 30, 2024 at 12:05 PM
$SHCO “going private” is giving me strong WeWork vibes
Squid games 2 hits different when the country is actually burning down realtime
December 27, 2024 at 4:03 PM
Squid games 2 hits different when the country is actually burning down realtime
Also why did they do crypto so dirty I thought we were friends
December 27, 2024 at 4:02 PM
Also why did they do crypto so dirty I thought we were friends
I know it’s hard to keep track of Asian faces and names but let’s try a little harder?
December 27, 2024 at 4:02 PM
I know it’s hard to keep track of Asian faces and names but let’s try a little harder?
#24. Bitcoin: The Ultimate Resistance Asset
With this final note below the "Advent Calendar of Resistance Assets" officially comes to a close. I hope it inspired you to think differently about safeguarding your investment principles for the post-modern era.
Let's keep building!
With this final note below the "Advent Calendar of Resistance Assets" officially comes to a close. I hope it inspired you to think differently about safeguarding your investment principles for the post-modern era.
Let's keep building!
December 24, 2024 at 10:26 AM
#24. Bitcoin: The Ultimate Resistance Asset
With this final note below the "Advent Calendar of Resistance Assets" officially comes to a close. I hope it inspired you to think differently about safeguarding your investment principles for the post-modern era.
Let's keep building!
With this final note below the "Advent Calendar of Resistance Assets" officially comes to a close. I hope it inspired you to think differently about safeguarding your investment principles for the post-modern era.
Let's keep building!
Now < 100bn but yeah let’s hike rates
December 21, 2024 at 5:51 AM
Now < 100bn but yeah let’s hike rates
guys i just ate a bear for dinner, which means—
UP ONLY
UP ONLY
December 20, 2024 at 4:52 PM
guys i just ate a bear for dinner, which means—
UP ONLY
UP ONLY
What did I tell you
December 19, 2024 at 5:28 AM
What did I tell you
After the FOMC further subsidized my consumption budget, a 155 USDJPY exchange rate means my admission ticket to the newly opened Nintendo Museum is now just $21.42.
Feeling bullish.
Feeling bullish.
December 19, 2024 at 5:27 AM
After the FOMC further subsidized my consumption budget, a 155 USDJPY exchange rate means my admission ticket to the newly opened Nintendo Museum is now just $21.42.
Feeling bullish.
Feeling bullish.
Hoping my plane to Korea lands safely today
concerned the dense air of lawlessness might stir up a little too much turbulence
concerned the dense air of lawlessness might stir up a little too much turbulence
December 15, 2024 at 5:16 PM
Hoping my plane to Korea lands safely today
concerned the dense air of lawlessness might stir up a little too much turbulence
concerned the dense air of lawlessness might stir up a little too much turbulence
As $MSTR officially enters the NDX 100 today, here is my 1-page executive summary on the "Theory of MicroStrategy" and how to profit off of the unstoppable hyperfinancialization of finance.
The trade of the decade is just getting started. Buckle up.
The trade of the decade is just getting started. Buckle up.
December 14, 2024 at 11:29 AM
As $MSTR officially enters the NDX 100 today, here is my 1-page executive summary on the "Theory of MicroStrategy" and how to profit off of the unstoppable hyperfinancialization of finance.
The trade of the decade is just getting started. Buckle up.
The trade of the decade is just getting started. Buckle up.
0DTE options
Nano futures contracts
Inverse levered ETFs
“Continuation” funds
“Private credit” ETFs
“Private companies” ETFs
2x single stock ETFs
Yep the retardification of society is still on track and is looking better than ever
Bet on secular trends
Nano futures contracts
Inverse levered ETFs
“Continuation” funds
“Private credit” ETFs
“Private companies” ETFs
2x single stock ETFs
Yep the retardification of society is still on track and is looking better than ever
Bet on secular trends
December 12, 2024 at 9:40 PM
0DTE options
Nano futures contracts
Inverse levered ETFs
“Continuation” funds
“Private credit” ETFs
“Private companies” ETFs
2x single stock ETFs
Yep the retardification of society is still on track and is looking better than ever
Bet on secular trends
Nano futures contracts
Inverse levered ETFs
“Continuation” funds
“Private credit” ETFs
“Private companies” ETFs
2x single stock ETFs
Yep the retardification of society is still on track and is looking better than ever
Bet on secular trends
4/ Some asked why I didn’t include countries like Switzerland or the UAE. I left out “wealth havens” for 2 reasons: 1) economies dependent on offshore tax haven status and 2) resource-rich countries. These “curveball” nations have immunity from the usual rules of global finance.
December 9, 2024 at 9:22 AM
4/ Some asked why I didn’t include countries like Switzerland or the UAE. I left out “wealth havens” for 2 reasons: 1) economies dependent on offshore tax haven status and 2) resource-rich countries. These “curveball” nations have immunity from the usual rules of global finance.
1/ As game theory intensifies, I’m *officially* going on the record with my mental model for how to think about BTC sovereign adoption by nation-states:
This is why I believe Argentina, Nigeria, and Turkey are next—and why El Salvador was among the first cc: @Dennis_Porter_
This is why I believe Argentina, Nigeria, and Turkey are next—and why El Salvador was among the first cc: @Dennis_Porter_
December 9, 2024 at 9:22 AM
1/ As game theory intensifies, I’m *officially* going on the record with my mental model for how to think about BTC sovereign adoption by nation-states:
This is why I believe Argentina, Nigeria, and Turkey are next—and why El Salvador was among the first cc: @Dennis_Porter_
This is why I believe Argentina, Nigeria, and Turkey are next—and why El Salvador was among the first cc: @Dennis_Porter_
Can you just imagine the wealth effect if Bitcoin had a 100-for-1 share split
The pent up and insatiable desire to be a whole coiner just to experience fullness
The pent up and insatiable desire to be a whole coiner just to experience fullness
December 8, 2024 at 2:42 AM
Can you just imagine the wealth effect if Bitcoin had a 100-for-1 share split
The pent up and insatiable desire to be a whole coiner just to experience fullness
The pent up and insatiable desire to be a whole coiner just to experience fullness
Is there any other song in the world that can instantly teleport you to Scorpios like “Stereo Love” on this miserably cold NYC day. 1OAK.
December 8, 2024 at 2:42 AM
Is there any other song in the world that can instantly teleport you to Scorpios like “Stereo Love” on this miserably cold NYC day. 1OAK.
Is @saylor $49MM bull Px target inspired by my UBI math??? (h/t to @McDonaghMatthew for connecting the dots)
December 8, 2024 at 2:42 AM
Is @saylor $49MM bull Px target inspired by my UBI math??? (h/t to @McDonaghMatthew for connecting the dots)
when things so improbable become not only possible but probable
that is what we call prophetic
that is what we call prophetic
December 6, 2024 at 10:01 PM
when things so improbable become not only possible but probable
that is what we call prophetic
that is what we call prophetic
Here’s everything you need to know about macro for 2025 and beyond—
Dive into my notes from the future, straight from the legend @alfonsopratgay 👇🇦🇷
Dive into my notes from the future, straight from the legend @alfonsopratgay 👇🇦🇷
December 6, 2024 at 10:00 PM
Here’s everything you need to know about macro for 2025 and beyond—
Dive into my notes from the future, straight from the legend @alfonsopratgay 👇🇦🇷
Dive into my notes from the future, straight from the legend @alfonsopratgay 👇🇦🇷
What does this even mean? Is Alphaville actually commieville?
December 6, 2024 at 12:47 AM
What does this even mean? Is Alphaville actually commieville?
“Europe is a museum, Japan is a nursing home, China is a jail, and bitcoin is an experiment” - @LHSummers
I’ll take the chaos of the experiment over the certainty of decay any day
I’ll take the chaos of the experiment over the certainty of decay any day
December 6, 2024 at 12:24 AM
“Europe is a museum, Japan is a nursing home, China is a jail, and bitcoin is an experiment” - @LHSummers
I’ll take the chaos of the experiment over the certainty of decay any day
I’ll take the chaos of the experiment over the certainty of decay any day
The most interesting BTC ETF option trade yesterday–
IBIT 15Jan27 P15 (75% OTM), traded 10k contracts at 80 IV for $1.5 with a delta of -3%, ~60mm. You might assume its a 10x payout for BTC to go to zero.
It's most likely not. The era of synthetic financing arb has begun.
IBIT 15Jan27 P15 (75% OTM), traded 10k contracts at 80 IV for $1.5 with a delta of -3%, ~60mm. You might assume its a 10x payout for BTC to go to zero.
It's most likely not. The era of synthetic financing arb has begun.
December 5, 2024 at 4:11 PM
The most interesting BTC ETF option trade yesterday–
IBIT 15Jan27 P15 (75% OTM), traded 10k contracts at 80 IV for $1.5 with a delta of -3%, ~60mm. You might assume its a 10x payout for BTC to go to zero.
It's most likely not. The era of synthetic financing arb has begun.
IBIT 15Jan27 P15 (75% OTM), traded 10k contracts at 80 IV for $1.5 with a delta of -3%, ~60mm. You might assume its a 10x payout for BTC to go to zero.
It's most likely not. The era of synthetic financing arb has begun.
$MSTR is the only trade in the world that is simultaneously long global carry and short global carry of fiat capital—which makes @saylor the Chairman of digital capital
Everyone understands it at the price they deserve
Everyone understands it at the price they deserve
December 4, 2024 at 11:39 AM
$MSTR is the only trade in the world that is simultaneously long global carry and short global carry of fiat capital—which makes @saylor the Chairman of digital capital
Everyone understands it at the price they deserve
Everyone understands it at the price they deserve