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It's only selling low when denominated in dollars but the play is the conversion between shares and bitcoin, not between either and fiat.
In terms of shares and bitcoin, he'd be buying low and selling high, respectively.
Wall St algs would instantly exploit this
Shorts would deliberately push the NAV below knowing it forces 'your' company to become a compulsory seller of its own underlying corn
I'll give you the benefit of the doubt in theoretical terms, we'll never know in reality unless you just won the powerball 😂😂
To be fair, he'd be no more obligated to make that trade at the moment mNAV flips than he is to issue new shares every moment that it's above one.
Fair dos, you were the only one who had a better idea, versus the thousands who criticise Saylor and that speaks volumes
Saylor is not an idiot, he's not in the business of trying to lose money, but financial engineering is tricky because essentially whatever 'strategy lol' you decide upon, the short sellers are waiting like vultures to peck at your weaknesses
This is a pristine road map to take but there are multiple risks involved with this, I'm sure you're aware of them so I won't bore you with the details but it's worth mentioning...
And lastly, part of Saylor's ethos is not selling Bitcoin which stops the short sellers from arbing, if Wall St know that as soon as mnav dips you'll be buying back by selling corn, those pesky traders will be pre empting your move by trying to take advantage
On reflection it's a bit of a mess