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Yes but the drawdown is STRC is more about rotation into SATA and the fact he reduced runway for the dividends from 18 months to 6 than it is about the bear market. He didn’t need to do that. Hence my chess analogy. He gave the market more leverage to have him at its mercy.
I don’t think so. Saylor is jigging for the credit rating agencies. He’s got a B- rating which is an absolute joke.
Retail was never the big fish. It was always to go after the massive credit/treasury market.
Same with SATA.
Sure he took an early gamble and it appears to look foolish but the dividends are still secured. Even if he has to dump bitcoin he can still pay the dividend.
The balance sheet is way too strong and he can always sell stock (which is why the stock market exists in the first place) to raise capital. The big fear is MSTR holders dump but the equity will fall below the balance sheet of the company.
The market did the same exact thing to Robinhood almost 3 years ago and now Robinhood has crushed bitcoin’s fiat performance due to this terrible mispricing.
But we are all at the mercy of the market.
Hardly a blow to his thesis. If you listen to his keynotes he makes it clear STRC is dead in the water if bitcoin doesn’t grow.
This bear market got investors shook.