According to @saylor, Bitcoin’s real 2025 progress is visible in institutions, credit markets, accounting rules, and bank adoption rather than short-term price action. Source: Michael Saylor on X, Jan 12, 2026 https://x.com/saylor/status/2010809374424645842 According to @saylor, the discussion with Danny Knowles examined Bitcoin treasury companies, mNAV, and corporate adoption, with @saylor rejecting conventional criticisms and emphasizing optionality, operating leverage, and risk versus ETFs. Source: Michael Saylor on X, Jan 12, 2026 https://x.com/saylor/status/2010809374424645842 According to @saylor, Bitcoin is evolving as digital capital supporting digital credit, and credit—not price—drives power, underscoring a market focus on credit dynamics over short-term price narratives. Source: Michael Saylor on X, Jan 12, 2026 https://x.com/saylor/status/2010809374424645842 According to @saylor, trading-relevant chapters include whether the four-year cycle is fading, the ESG collapse with AI reshaping the energy debate, the number of treasury companies, the optionality of operating companies versus ETFs, mNAV gravity to 1, digital credit as a core business model, holding USD reserves, and the roles of capital investors versus credit investors. Source: Michael Saylor on X, Jan 12, 2026 https://x.com/saylor/status/2010809374424645842 According to @saylor, focus and endurance matter more than narratives, reinforcing attention to institutional adoption, bank integration, accounting treatment, and corporate treasury execution for assessing BTC market structure. Source: Michael Saylor on X, Jan 12, 2026 https://x.com/saylor/status/2010809374424645842

According to @StockMarketNerd, a new chart visualizes multi-year operating leverage for $MELI, highlighting how efficiency has evolved across cycles (source: @StockMarketNerd on X, Oct 27, 2025). MercadoLibre discloses revenue, operating income, and operating margin by segment in quarterly results and its annual 20-F, enabling traders to track operating leverage with official filings (source: MercadoLibre 2023 Form 20-F and company quarterly results). Traders often compare operating income growth versus revenue growth to evaluate operating leverage and margin durability into earnings, a standard approach in fundamental analysis (source: CFA Institute, Operating Leverage overview). MercadoPago, MercadoLibre’s fintech arm, introduced crypto buying and selling in Brazil in 2021, linking MELI’s fintech scale to regional digital asset activity that crypto-equity traders monitor (source: MercadoLibre press release, 2021).