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Adam Livingston

@AdamBLiv

Nov 26, 2025

🚨JPMORGAN JUST ADMITTED BITCOIN WON🚨

JPMorgan just filed structured notes tied to BlackRock’s Bitcoin ETF with leveraged upside, conditional early call, and multiyear convexity exposure.

To decode this, you need to understand what banks actually use these notes for.

This is JPMorgan selling convexity on Bitcoin into institutional demand while hedging the other side internally.

This product shows JPMorgan believes:

Bitcoin is too big to ignore and too profitable not to financialize.

Let’s break it down.👇

1. JPMorgan Is Packaging Bitcoin Volatility into a Bank-Friendly Derivative

A structured note is Wall Street’s favorite trick for one thing:

Take a volatile asset, slice it, repackage it, and sell it at a spread.

Bitcoin is the most volatile large-cap asset in existence. Banks LOVE that because volatility is literally the raw material for financial engineering.

What JPMorgan is actually selling is:

Short-vol call protection (via the early call feature)

Long-vol convexity participation (if BTC is down in 2026 but up big by 2028)

A coupon-like payoff that is directionally dependent

Exposure through BlackRock’s ETF so they don’t touch physical BTC

They aren’t selling “Bitcoin.”

They're selling Bitcoin’s volatility surface.

2. The Early-Call Trigger Is JPMorgan Protecting Its Own Ass

If the ETF price is above the preset level in 2026, the note is automatically called at a fixed payout.

This does two things:

A. Caps JPMorgan’s Liability

If Bitcoin rips between now and late 2026, JPM doesn’t want to owe clients massive convexity exposure.
So they force-close the product early.
B. Signals JPMorgan EXPECTS a BTC Rally Before 2026

You don’t add a call-away mechanism unless you think the probability of having to invoke it is high.

JPMorgan is quietly telling you:

“We think BTC will be higher by 2026.”

But they also want:

“Please do NOT make us pay you 1.5x upside through 2028.”

That’s why the call exists.

Read 10 tweets

Adam Livingston

@AdamBLiv

Nov 18, 2025

🧵HOW SAYLOR TURNS STRATEGY INTO A $10 TRILLION COMPANY - EASILY!

Listen up, snowflakes.

You don't buy MSTR because it "tracks Bitcoin".

You buy MSTR because it is quietly evolving into the central node of the BITCOIN CREDIT UNIVERSE.

This is a NEW SPECIES of CORPORATION.

AND THAT SPECIES ALWAYS WINS 👇

Let's begin by talking about BITCOIN AMPLIFICATION:

Amplification = Notional Preferred / BTC NAV

At 50% amplification, Strategy has:

Preferred Notional = 0.50 × BTC NAV

Right now, Strategy’s BTC NAV is roughly: $60.4B

So 50% amplification means:

$30.2B of perpetual preferred capacity.

Thirty. Billion. Dollars.

Of non-maturing, non-recourse, perpetual capital backed by Bitcoin.

This is not debt. This is not common equity.

This is synthetic Bitcoin leverage without liquidation risk.

How Much Bitcoin Can Strategy Buy at 50% Amplification?

At BTC ≈ $93k, $30.2B buys ≈324,000 BTC

Yes.

324,000 BTC.

Added on top of the 649,870 BTC they already hold.

That alone would take Strategy to 973,870 BTC

They would be 27,000 BTC away from ONE MILLION BITCOIN.

Think that's unrealistic?

THEY RAISED $800 MILLION LAST WEEK.

$7.7 BILLION IN JUST THIS YEAR IN PREFERRED EQUITY.

$26 BILLION IN COMMON EQUITY.

THE TRADING VOLUME OF THE STRATEGY PREFS IS OVER 3X WHAT IS WAS TWO MONTHS AGO.

50% AMPLIFICATION IS INEVITABLE BECAUSE THE BEST PRODUCT ALWAYS WINS IN THE MARKETPLACE AND TRADITIONAL FIXED INCOME PRODUCTS CAN'T TOUCH THESE YIELDS.

Read 11 tweets

Adam Livingston

@AdamBLiv

Nov 10, 2025

🚨SENATE RELEASES CRYPTO BILL DRAFT - THIS IS MASSIVE FOR BITCOIN🚨

The Senate Agriculture Committee just dropped a massive crypto market structure bill…

…and buried inside it is the most pro-Bitcoin federal language we’ve ever seen.

Nobody’s talking about it yet. But you should.

Because this is a regulatory nuke.

🧵Why this is HUGE👇

First: Congress finally defines “digital commodities”…

And guess what fits the definition perfectly?

✅ Bitcoin
❌ Securities
❌ Anything depending on an issuer
❌ Anything needing managerial effort

This is Congress quietly saying:

Bitcoin is not a security, it’s a commodity.

That changes everything.

Second: The bill creates fully regulated CFTC-supervised spot Bitcoin exchanges.

This means:

• clean market structure
• real surveillance
• stronger custody rules
• predictable listing standards

Translation: Wall Street just got the green light to trust spot Bitcoin infrastructure.

Read 7 tweets

Adam Livingston

@AdamBLiv

Nov 9, 2025

The 50-year mortgage is actually brilliant if your IQ is over 120.

Everyone else is screaming about debt slavery while the rest of us are running the numbers like, ‘Wow, I get to pay less per month AND the dollar collapses faster than I can?’

Congrats, you just turned your house into a leveraged short on the United States government.

Millennials finally get a win, and it’s betting against America’s ability to do math.

https://x.com/AdamBLiv/status/1987616734430503033?s=20

See below:

https://x.com/AdamBLiv/status/1987616734430503033?s=20

I LOVE all the people coming out of the woodwork with "NOBODY WILL DO THIS"...

Uh huh, I remember opting for a 30 year instead of a 15 year for this exact reason. And I'd do the same for a 50 year because I can do math and I love Bitcoin. LOL

Read 5 tweets

Adam Livingston

@AdamBLiv

Oct 15, 2025

🔥STRC = TAX-FREE DIVIDENDS FOREVER?!?🔥

Using Bitcoin, Saylor created STRC.

It currently pays MONTHLY dividends at a variable rate that is backed by ever-appreciating Bitcoin instead of shaky cash flows.

But is it also a tax-deferred yield reactor that legally outsmarts the IRS?!?

Let's look into it:

Traditional companies pay dividends from profits → that’s taxable income.

$STRC pays “dividends” from new equity issuance → that’s Return of Capital (ROC).

Return of Capital ≠ income.

It’s just your own basis being returned to you… tax-deferred.

The IRS says:

ROC reduces your cost basis.

You owe tax only when you sell for more than your basis.

But here’s the catch... STRC’s share price is pegged at the $99-101 range.

They literally adjust the dividend rate to keep it there.

So when are you going to realize a large gain?

NEVER.

Read 11 tweets

Adam Livingston

@AdamBLiv

Sep 15, 2025

🧵AI, Bitcoin, & The Great Convergence

You have 5 years to stack as much Bitcoin as possible before AI renders your labor obsolete.

We stand at the event horizon of humanity's most profound economic metamorphosis.

Here's how to position yourself accordingly 👇

THE PROMETHEUS MOMENT

IDC's projection of $19.9 trillion AI-generated GDP by 2030 represents more than economic growth.

It's documentation of a new species of value creation emerging from silicon and code.

Every dollar invested in AI models generates $4.60 in output, but here's the philosophical reckoning:

That 4.6x multiplier isn't just efficiency, it's the mathematical proof that human cognition is being distilled into algorithmic essence.

We're witnessing the industrialization of consciousness itself, where thought becomes commodity and intelligence becomes infrastructure.

The question isn't whether this benefits humanity, but whether humanity remains economically relevant in its wake.

THE LOGISTIC DETONATION

Inference costs collapsing 85% in 24 months signals something far more profound than technological progress.

It's the compression of human cognitive value into near-zero marginal cost.

When AI task execution drops below $0.01, we cross the Rubicon where algorithms become economically superior to humans in domains we never imagined surrendering.

History reveals that when transformative technologies breach this price threshold, adoption doesn't climb - it detonates.

The S-curve doesn't negotiate; it obliterates.

We're entering the 2-3 year window where the old world dies and the new one calcifies.

Most will mistake the transition for turbulence.

Read 15 tweets

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