According to @Andre_Dragosch, Bitcoin has effectively become the new hurdle rate for Bitcoin-treasury equities like MicroStrategy (MSTR), meaning investors expect MSTR to outperform BTC rather than the S&P 500, source: https://twitter.com/Andre_Dragosch/status/2011016030450049508. He states that MSTR’s equity risk premium should be framed as Bitcoin return minus the risk-free rate multiplied by MSTR’s beta to Bitcoin, which defines the performance benchmark traders should track, source: https://twitter.com/Andre_Dragosch/status/2011016030450049508. He adds that because investors can buy BTC directly without MSTR’s added credit and counterparty risks, any common stock issuance will be judged against BTC’s risk-adjusted returns, source: https://twitter.com/Andre_Dragosch/status/2011016030450049508. For trading, this implies monitoring MSTR’s beta to BTC and pricing equity raises versus BTC returns and the risk-free rate to assess relative value and potential alpha, as outlined by @Andre_Dragosch, source: https://twitter.com/Andre_Dragosch/status/2011016030450049508.

According to @Andre_Dragosch, the cost of common equity is anchored in the Capital Asset Pricing Model, meaning investors require at least the market return referenced by the S&P 500 plus an additional markup tied to a stock’s relative volatility, described as the Equity Risk Premium, source: @Andre_Dragosch on X, Jan 13, 2026. According to @Andre_Dragosch, this required return for common equity can be relatively high versus the cost of preferred equity and debt, which is critical when assessing equity issuance pricing and expected returns, source: @Andre_Dragosch on X, Jan 13, 2026. According to @Andre_Dragosch, traders should recognize that higher-volatility common stocks must clear higher CAPM hurdle rates than preferreds and bonds, using the S&P 500 benchmark plus an ERP-based markup when evaluating offerings and valuations, source: @Andre_Dragosch on X, Jan 13, 2026.

According to @QCompounding, Jeremy Siegel’s Stocks for the Long Run presents data showing equities have delivered the strongest long-horizon returns among major asset classes and concludes that long-term holding is superior to market timing, source: @QCompounding and Jeremy Siegel, Stocks for the Long Run. For traders, the actionable takeaway is to prioritize time-in-the-market approaches such as steady allocation or dollar-cost averaging because Siegel’s research finds timing strategies underperform over multi-decade horizons, source: Jeremy Siegel, Stocks for the Long Run. Risk management remains necessary, but the core edge comes from compounding the equity risk premium through persistent exposure rather than frequent short-term prediction, source: Jeremy Siegel, Stocks for the Long Run. This directly aligns with @QCompounding’s summary that time in the market beats timing the market, source: @QCompounding.

According to @QCompounding, Jeremy Siegel’s Stocks for the Long Run shows from historical data that equities deliver the strongest long-term returns and that staying invested beats market timing (source: @QCompounding; source: Jeremy Siegel, Stocks for the Long Run). For trading strategy, this supports prioritizing sustained equity exposure, using dollar-cost averaging, and rebalancing over frequent timing trades to capture the long-run equity premium (source: @QCompounding citing Siegel). The source does not mention crypto, so no direct BTC or ETH impact is provided in this reference (source: @QCompounding).

According to @CNBC, the S&P 500 dividend yield has fallen to its lowest level since the dotcom bubble, highlighting a historically thin income profile for U.S. equities, source: CNBC. This matters for traders because a lower index dividend yield mechanically reflects higher prices relative to dividends, making dividend-based valuation screens less attractive at the index level, source: CNBC. Cross-asset allocators may focus more on equities versus bond carry and sector leadership dynamics as yield scarcity concentrates performance, with potential liquidity implications for high-beta assets including crypto, source: CNBC. Crypto-focused traders can monitor equity breadth, the equity risk premium, and funding conditions to gauge whether equity income scarcity coincides with risk-on or de-risking across digital assets, source: CNBC.