—no grade yet: needs 10 resolved calls with their own deadline (2 so far)
2 hit0 missed
80%
all resolved (10)
85%
30-day direction (54)
85
calls logged
75
open right now
0
flips (30d)
Current stance · last 90 days
▲ BTC → $96,600
Sep 25 · open
Is Adam Livingston accurate?
Not graded yet: 2 of 10 resolved calls with a self-set deadline (10 resolved in total). A month after each directional call, the price had moved the way they said 85% of the time (54 calls). Every call below is quoted, dated and priced.
“For a Bitcoin treasury company underwriting a bullish thesis through 2030, the price at which it adds preferred-funded Bitcoin exposure can have an enormous effect on the returns for the common stock shareholders.”
“And the results just get insane. If you want to know the nine-month forward median return number, a 90% return, that's almost a doubling of the Bitcoin price. We're knocking on the door of 150k Bitcoin.”
“Now, the median return over three months only, which is about 90 days from the analog start here, that's about an 18.6% median three-month return. If you do the math, that gets us in the neighborhood of 90k Bitcoin.”
“And if we just make the return to the Bitcoin gold ratio that we saw in October when Bitcoin hit the US dollar all-time high, that would imply a close to a doubling of the price, $140,000 Bitcoin.”
OPENBTC ▲ → $458,000· Aug 17, 2026 · horizon 1048d
“Now, if you just take the median return of Bitcoin, that would mean that it would take Bitcoin to $458,000 by June of 2029, with just the median return.”
“I think that if you guys are watching the channel, you probably think there's a decent chance Bitcoin will be $1 million in 10 years. Personally, I definitely think that's a possibility.”
“Now let's just assume that Bitcoin doubles over this period. So, you know, by August of 2029, Bitcoin only goes back to its all time high. I don't think that's too crazy to think.”
“The median forward Bitcoin return from these 84 historical observations, whenever we've been at this premium to that 200 week moving average is a plus 267.8% return over 2.7 years. The median multiple is a 3.68. So the median implied Bitcoin price is $238,000 with a 100% win rate whenever you've bought Bitcoin from this level of premium to that 200 week moving average.”
“my primary underwriting case that I'm looking at is actually the 217,000 per Bitcoin number. Because remember, that clustering of those results all around that 18 months level”
“Now, on top of that, I do have them issuing $15 billion of STRC. That's the preferred capital. Now, if they do that linearly on the way up to 300k Bitcoin every single month until December 2028, that means they only buy over 100,000 Bitcoin.”
“If Bitcoin merely reclaims its previous Bitcoin priced in gold high with the gold price totally unchanged from today, that means Bitcoin is around $162,500.”
“And that is bullish because if demand merely reopens up, the ETFs, the macro liquidity, the cost basis recapture, all of these things start to happen, maybe the next 12 months can become violently asymmetric.”
“Now what I am actually using for the conservative Bitcoin price five years from now, July of 2031. This is a five year scenario. Bitcoin is going to be $750,000.”
“By September 2027, which is that first convertible debt put date, the median Bitcoin return is 160.4%, which would imply a Bitcoin price of $169,287.”
“Let's do a three-year projection. That'll be fun because that would be July of 2029. And I do have some people who get annoyed in my audience of, you know, Adam, you're being too bearish. Bitcoin is going to be higher. And I'm like, okay, well, sorry if you don't like my inputs, but let's just go with 400k being the Bitcoin price”
“let's just start with a one year projection just to kind of illustrate what I'm talking about. And let's just say that Bitcoin goes to $150K over the next year.”
“So this median of the medians number with those tolerance bands, this would imply if history rhymes, that median return would mean 160k Bitcoin from today”
“hopefully Bitcoin is 200k by then that to me would be a decent mean reversion in the asset. There is no guarantees that Bitcoin will be at $200,000 a year from now.”
“Bitcoin is the superior long-term play because Bitcoin sits underneath the question every investor must answer. What do you trust as your unit of account?”