Code : NASTY

Before I update you on the treasury operations I want to make some general comments about NotaStrategy (NASTY).

It would have been easy to have just copy pasted the MicroStrategy name and logo ( as many have done). My aim was to come up with an original concept that tied together a parody of MSTR with the meme “Bitcoin is worth nothing”. As I have said before by accumulating the Nothing token  ( a Stacks meme coin ), NotaStrategy, using irony and comical parody,  seeks to exposure the absurdity of the statement "Bitcoin is worth Nothing" which perversely gets louder the higher the price of BTC goes. The fact that Nothing token transactions settle on Bitcoin adds to the irony. If you think Bitcoin is worth nothing you should be getting your hands on as much Nothing as possible !     

Getting the memes/transactions right and the message clear is challenging and still a work in progress. I liken NASTY to collectible fungible performance art. ( And thus it will have its critics no doubt lol). Given the state of the oversupplied meme coin market at the moment, where most tokens don’t last a month, I’m hopeful that this originality coupled with our substantial treasury will give us the staying power to ignite a spark in the meme coin community. The NotaStrategy message ( delivered with humour, irony, and parody) is that Bitcoin is NOT worth nothing, you don’t have enough Bitcoin, and dollar cost averaging into Bitcoin is your best strategy. 

The NotaStrategy Bitcoin treasury lies at the heart of Nasty.  It serves two purposes, firstly as an operating  parody of MSTR’s bitcoin treasury, and secondly as a means of self-funding for Nasty and its community. Its main holdings are 1.02 sBTC and 3.04 trillion Nothing tokens. If BTC is worth Nothing, why not own both ? 

Given the recent bullish outlook for BTC we increased our  holding to 1BTC as quickly as we could, using at the money (ATM) token sales on both STX and SOL as well as BTC collateral borrowings on Zest finance.

Last week we concluded a successful short STX / long BTC trade where we borrowed in STX, converted the funds to BTC at an average of 1.31 STX and then repaid/converted to a  aUSD loan at an average price of 0.96 . We also transferred $6,500 USD from our Solana treasury to pay down the loan. As per the table opposite, total net assets of the Nasty bitcoin treasury are $129,048. 

It is interesting to note that if we did a maximum token burn on both chains our combined market cap would be around $185,000 ( currently it is $330,000 if you include unissued tokens).

There is a lot we can still  do with the tokenomics, it just depends on how far we want to develop the treasury function and how much of an overhang of token supply we are willing to endure in the short term. Maybe at 1 BTC and 3 trillion Nothing tokens the treasury is large enough already to fulfill its MSTR parody function and we should do a major burn. On the other hand the treasury function gives us a chance to add utility/funding to NotaStrategy and differentiate ourselves from others. We would have to grind through our overhanging token supply ( as we have been doing with the ATM sales), the upside is that we would end up with a very strong BTC holding in the treasury. 

At some point in the future the treasury may also become large enough to allow us to do a buy back and burn program  for our own token. 

Plenty to think about and discuss. 

Martin Taylor CEO

NotaStrategy