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That would increase the leverage.
When your preferreds are backed by your stack, you don't want to shrink the latter, especially when the stock is down.
💯his future credit worthiness is based on his stack.
he is a "fiat miner" and that's the most profitable want to be a miner these days in comparison to a bitcoin miner which is the most unprofitable way
he is has built a refinancing engine that works as long as he can always refinance
True dat, selling coins brings you closer to the point where obligations can be serviced.
Then again, the prefs are small in size comparatively. They can easily afford shedding a few hundred thousand coins lol
What Solomon dude said.
Corporate/financially, absolutely he can. Imagine the PR disaster if he parts with a single sat
I have a theory that if Wall St knows he would sell, then MSTR would go higher
Obviously better tested at ATH than bottom
I think so too.
If you believe in the accretive dilution concept and are bullish on bitcoin, then that should be a plus.
If you don't believe in those two things, then why the hell would you buy MSTR?
Seems easy enough to spin. Running it either direction is accretive, so he can just say that his goal is maximizing bitcoin/share.
Because hype does not work well in reverse.
If the mNAV drops well below 1, why can't Saylor just reverse the normal trade and sell less bitcoin for more shares?