BTC $ Income

BTC $ Income represents the dollar value of the unrealized gain or loss on bitcoin acquired using a specific financing, after subtracting any related dividend or interest costs.

If the net result is a gain, it is multiplied by the applicable BTC Spread; if it is a loss, the full value (100%) is recognized for the period. Additionally, if the financing involves a debt or liability with a maturity, any redemption cost—except for dilution effects already captured in BTC Gain—counts as an expense similar to interest or dividends.

BTC $ Income is for illustrative purposes only and does not represent "income" as defined by traditional financial reporting standards.

Key Points

• Takes into account all costs associated with financing, including interest, dividends, and relevant redemption amounts.

• Treats any net gain differently than a net loss by applying a BTC Spread or recognizing the full loss.

• Excludes dilution effects that were already accounted for in BTC Gain.

• Intended solely for illustrative and comparative analysis, not as a substitute for GAAP income or recognized financial performance.