Reference

The CEBE Record

CEBE, Common Equity Bitcoin Exposure, is the Bitcoin each common share owns after senior claims. Bobby Tierney (@chcbearsfan) created it in January 2026. The definition and formula are on /cebe/ and /methodology/.

This page records, by date, where the term and the construction have appeared outside this site. Each line links its public source and gives the sha256 of the capture held on file, so the exact file behind the line can be identified.

  1. 2026-01-26

    Adam Livingston publishes a video naming the CEBE framework and Bobby Tierney.

    Source: youtu.be/eVnxpoFmDBY

    Capture sha256 fe3acf487cd31316fded6e6585db00fbe340dae0b8fd4a804da5417c1e9e9312

  2. 2026-06-14

    Strategy's chairman references CEBE BPS publicly.

    Source: x.com/saylor/status/2066069710689444235

    Capture sha256 4df7d5d951b932d8c1cfe212739a7eab57a0585d3aea0c99011665ab0ef8d0f2

  3. 2026-07-21

    The BitMEX blog publishes an MSTR mNAV guide with a section on the CEBE framework.

    Source: bitmex.com/blog/mstr-mnav-guide

    Capture sha256 8caf2d8bce4121f9ecce64cb0bee99f24d7b2985712031f058e35f3acd1ba6b8

  4. 2026-07-23date as Strategy's glossary gives it

    Strategy publishes its own net-of-claims per-share figure.

    Source: strategy.com/notes

    Capture sha256 e1121b152544e3d2869fe693562552b0c1197a0ff94006bc5a0478508c420e61, captured 2026-09-22

  5. 2026-09-08capture date; the page carries none

    Galaxy Mind's treasuries page carries a CEBE section citing cebetracker.io.

    Source: galaxymind.space/treasuries

    Capture sha256 bdd1c560361fca7522d65cb0c7e66cfa15e0d6753ebaf9aed01c5265cbfe1f61

  6. 2026-09-18

    Grain of Salt records Strategy's 2030A convertible entering its fully diluted share count.

    Source: x.com/GrainofSaltSF/status/2101079579641217474

    Capture sha256 f39c995112732415b10aea8d41ce44caf632a3149d212b58039af8198c2472ac

  7. 2026-09-22

    Strive's chairman and CEO, replying to Bobby Tierney, links Strive's net treasury asset value calculation.

    Source: x.com/ColeMacro/status/2102490642685538774 and x.com/ColeMacro/status/2102499087530725537

    Capture sha256 a36a394b29e9bf3d6acb9377810f0d75a39baca01c5dfd734a630bd6e2656692

  8. 2026-09-23

    Monster Model publishes a net-basis feature, and its author posts about the CEBE framework.

    Source: x.com/monster_models/status/2102927595100577817 and x.com/monster_models/status/2102954191446524386

    Capture sha256 8bd2791eb74ba8a9be9086900a20eb689bf0206032617aafc9062aa5d4f05a55

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