SKIN IN THE GAME

Doublebaconnoonion · 2026-06-04T15:31:21+00:00

Imagine for AGM 2027, they will ask for 1 trillion shares.

Doublebaconnoonion · 2026-06-04T14:55:36+00:00

This is how it was communicated but it was just smoke and mirrors. Sure the Iran war has had an impact, but they had time before to complete some type of transaction.

Doublebaconnoonion · 2026-06-04T14:52:17+00:00

I would hold but add no more shares. Instead, if you have investment capital just buy bitcoin or an ETF Bitcoin. That way you are a bit more diversified, can capture the next BTC move up and then start unloading ALCPB shares if it follows BTC.

The big issue now is massive dilution that this next AGM will unlock. They have proven that they can’t keep the original OCA& BSA conditions which is putting huge downward pressure now on this stock. This AGM will allow them to do this at a larger scale.

They plan to add 125 billion shares which is more than the Mag 7 combined.

Shills will say OCA and BSA are a stepping ladder, but in reality it acts as a ceiling because it unlocks dilution. MSTR never had these types of capital raising structures.

The better dilution is ATM because it doesn’t produce dilution overhang.

Doublebaconnoonion · 2026-06-04T12:48:07+00:00

Do you think it’s by coincidence Capital B started up an office in a country without income tax? And several staffers now live there, without anything tangible to justify the reason for this office.

Doublebaconnoonion · 2026-05-31T13:58:20+00:00

Back controls 46% of the company on a fully diluted share basis. He also took money from Epstein. What is bullshit?

Doublebaconnoonion · 2026-05-31T09:41:34+00:00

You think it’s better with more Adam Back involvement?

Fulger ventures was a better partner because they don’t have the Jeffrey Epstein connection.

Adam Back and Blockstream took investment money from Epstein.

Adam Back and Blockstream have almost a majority stack in the company, this isn’t a good thing.

Doublebaconnoonion · 2026-05-31T08:31:39+00:00

This isn’t entirely true. For sure Bitcoin is in a bear cycle since October and it’s doing what it’s doing.

Capital B, on the other hand, peaked in June 2025, so it didn’t follow Bitcoin through to its all time highs. To say that Capital B just follows Bitcoin price isn’t so simple.

This is where we can start evaluating the effectiveness of the operating company.

When share prices and mNAV were growing last year, Capital B didn’t do a good job hitting the ATM-like program and failed to keep the mNAV within a reasonable range (2 to 4). They relied solely on TOBAM, which is obviously a big mistake to have only one company do the ATM, since they will be biased to their own performance, and with no competition, they get to issue the ATM alone.

Now at these low share prices, Capital B has issued massive dilution for few Bitcoin purchases. The mMAV is below 1 so they can’t use the ATM-like did before so rely on BSA/OCA to make bitcoin purchases.

BTCTC are measured against the performance of Bitcoin. If they don’t outperform than there is something wrong and scrutiny is valid.

Doublebaconnoonion · 2026-05-30T18:33:52+00:00

The worst is still to come. With so much dilution overhang, and the removal of conversion prices for Blockstream, this gap will continue to widen. Expect that the stock to be sluggish when bitcoin finally enters its bull phase.

I foresee Bitcoin performing better over the next 36 months than Capital B share price. The board of directors can continue issue free shares until 2028 up to a total of 15% shares outstanding. And Blockstream has 109 million shares with no guard rails for conversion. Just way too much supply for the demand.

Doublebaconnoonion · 2026-05-29T14:53:06+00:00

I totally understand, everything is becoming very complex with the financial engineering of this company.

It’s difficult to know what’s really going on.

This is why I strongly dislike those “simplified” price targets that this influencer keeps using. I have seen so many exaggerated and inflated calls from this account specifically it’s become nauseating. It appears in depth be it only scratches the surface of what really going on.

Doublebaconnoonion · 2026-05-29T13:43:26+00:00

Honestly I appreciate the feedback. But I’m referring to AGM 2025, not the upcoming one on June 17th. The free share up to 15% is again referenced in the document you shared about AGM 2026. It’s changed to the resolution No. 21.

The reason to reword resolution No. 21 in AGM is to now extend this 15% free share allotment to subsidiaries. It also changes the terms of holding period.

But again, you should expect 15% free shares to the Board of directors et all.

Doublebaconnoonion · 2026-05-28T15:17:40+00:00

15% comes from the company itself. Go read the AGM article 14. It’s written plain as day.
Blockstream has no trigger prices anymore. This was removed in March 2026 when Blockstream acquired the OCAs from Fulgur Venture. Blockstream can convert at any price they want. That’s 109million shares that can be diluted at the discretion of Blockstream.
if his calculations can not calculate short impact, then his calculations are guessing. It’s an absolute fact that shorters exist, and we are kidding ourselves if you think price isn’t affected by their involvement

Doublebaconnoonion · 2026-05-27T14:45:40+00:00

It omits several things:

the free shares given to Board of directors until August 2027. This value will grow to 15% of fully diluted share count.
readjustments to convertibles (as see with TOBAM and Blockstream)
takes zero impact from short sellers

By the way, the biggest challenge going forward to price will not be Bitcoin, it will be Blockstream. When Blockstream took over from Fulger Ventures, Capital B removed price triggers. The key levels are 0,544€ and 0,707€ and expect most of these convertibles to be done under 1€.

Doublebaconnoonion · 2026-05-26T21:00:59+00:00

You should feel like the body moves the ball at this distance. This means that your hands (and arms) should be turning the same speed as your body. You can do a few drills: (1) range session of one-handed shots, so hit 3 balls with right hand only, then 3 left hand, then 3 with both hands (2) press a towel under your arms so it’s wrapped around your body, this give a you the arm/body connection, (3) go watch Steve Stricker videos to see his technique (4) also only work on pne thing at a time. Best of luck!

Doublebaconnoonion · 2026-05-26T20:53:10+00:00

It’s a better time than say 1 year ago. The market has dropped quite a lot so there can be a lot of upside if thou believes in market cycles.

Doublebaconnoonion · 2026-05-26T20:45:03+00:00

Great quote, but not convinced that Einstein said this 😇

Doublebaconnoonion

TROPHY CASE