MSTR

BrokenHefaistos

I can't speak for bitcoin but most crypto and memers will be fine, it's a game with fiat prices. People like games, but hate their games being rigged by Trump, MSTR, Fink and those are all playing tricks on the one thing everybody knows, and like a rockstar might succomb to its own fame.

Donut_LordO

If BTC doubles in price, MSTR quadruples 👍

Peepzer

Hey lad, I wasn't giving my opinion on Strategy (but I will below haha)😁 Just so fed up with people on **both** sides of the argument flinging shit without substance/proof. WSJ isn't exactly proof btw - citing a news outlet to be your source rather than doing the research yourself is a cop-out I'm afraid. I'd say the same to a MSTR fanatic that blindly defends Strategy too. So my opinion then: I do lean more on the side that Strategy will be fine because they now have 17.4 months of cash for dividend coverage. BTC could literally sit here for the next year and a half and Strategy are chilling. I think them paying off that other convertible debt recently was not a good move but it's not "death"-inducing, and is entirely separate to their pref obligations. Plus, it's a very human thing to want to find a scapegoat for anything bad in life, and it happens every crypto cycle. This cycle's blame game is being sent in Strategy's direction but it's unfounded. Only those who *haven't* read Strategy's balance sheet and *haven't* been present in their shareholder meetings are saying that Strategy will die, because once one reads the numbers the "Strategy will die" mantra becomes an argument with math itself. I will now step off my soapbox.😉

BigWhatoh

They'll all still be here, surely. I mean imagine a world without 10 million ways to send someone a bit of unstable currency. Just BTC maybe? The rest will be more defunkt than now. Proof case of viable tech at best. If governments wanted you to 'own' money then fiat wouldn't still be owned by the printers. Only BTC had half a chance at being an alternative to that. Frequent BTC forks and companies like MSTR trying to own 5% of it only destroys the premise

SilverPrivateer

You memecoiners are why no one takes bitcoin and MSTR seriously anymore. Fartingcoin? Really?

Nick700

they have more than a year of dividends in cash and none of their bonds are due within anywhere near 3 months, so idk what could make them go under that quick. Big players can send the share prices lower and lower, but there isn't some price that kills the company if they drop below it, for STRC the dividends are fixed and if they can no longer sell MSTR either due to capital markets forsaking them they would still have 800k btc to sell before they would die off entirely

Commercial-Ad90

If it hits 12k it would be dead. MSTR would be insolvent

OutrageousCat4016

Enjoy your $MSTR when it implodes

fan_of_hakiksexydays

As a bear, I still truly admire bulls. And I genuinely hope you guys make money during this rally. You deserve it for the sheer amount of balls you need to have during a crypto bear market. During crypto bear markets, you're not only worried about downtrends, you have to worry about the shit hitting the fan all around this space. And sooner or later, there's always some black swan events that fucks everything up. And it might not even be MSTR. There's no shortage of other shit that can hit the fan here. In every bear market, when there's fear and stress on every aspect of the market, there's always some exchange fucking up, major projects falling apart, teams falling apart, some major hack taking advantage of the chaos, some crypto bank failing, etc...

Nick700

MSTR survives 15k unless the 15k lasts years

tw_wombat

Some of their early "investments" were not stable. It's not clear how much they made or lost. And what's the implications on tax or fines they have to pay (And to who?). Right now the only thing for sure is they can withstand larger bankrun than any 5 banks combined you name it. And no one bother/able testing this theory because what's the benefit? In a sense a 100% bankrun might actually be great for them. So they can retire not telling anyone about the profits. But I am sure it will trigger massive crypto devaluation and bankruptcy for more entities like MSTR or even banks and Treasury. Not only BTC and ETH will dip, bonds too given they are "THE" largest holder.

_RonPaulWasRight_

I'm honestly not trying to take the acute angle, and thank you for your refutation. Yes, the 4 year comparison probably makes a bit more sense. So then let me ask you this - why did we get such an anemic ATH in Oct '25 for this past cycle? At $126k, it was less than twice the prior 4 year cycle's ATH.... How do you square that circle. Are the "paper Bitcoin" products like ETFs, Futures and Treasury companies (MSTR, etc.) causing the market to flood with too much (rehypothecated or otherwise) paper Bitcoin? Which would serve to assuage demand without taking away from the limited 21 million supply. It just, doesn't seem to have done much as far as the ATH yet we're getting this bad bear market and it's going on forever. Thank you.

Robb-san

If your theory is true, isn’t there more of a case and greater upside for “wall street” to simply long MSTR at the bottom and ride it back up?

PlutoPlaneta

Well, if BTC goes 15k because of USDT you are going to have that MSTR black swan as a free bonus on top.

pythosynthesis

Pathetic attempt to dismiss OP's point. WallSt is a group of people who talk and who have the power to move markets. The traders in giant banks, to be clear. And they smell blood with MSTR/STRC and are indeed attacking them. You may have heard something a about WllSt smelling blood and similar stories.

pythosynthesis

You're onto Something OP. WallSt is smelling blood with STRC/MSTR and you know what that means. They don't want money from buying BTC cheap, but from STRC/MSTR stock in the gutter. And they're attacking their funding, not so much BTC. If STRC/MSTR cannot run the business because funding is too expensive, they'll need to sell coins to pay for it. And the recent sell of a handful of coins was the canary in the coalmine.

VisiblePlatform6704

Everybody is saying MSTR will be the next FTX blacknswan event.  I think it will be USDT, and it will be HUGE, like btc to $15k huge. (Or btc to 200k if everyone gets out of shitcoins based USDT and into btc)

Kitchen_Catch3183

Yesterday, dumbest people alive were celebrating Saylor’s plan sale of Bitcoin as “genius” because MSTR/STRC went up. Where will they be today?

matman88

Because MSTR is a leveraged bet on Bitcoin. Outsized risk for potentially more reward. Not defending the move but that is the thesis.

MelangeBot

Nah, we first need two more weeks of "MSTR about to crash the Bitcoin price" news while the price slowly goes down to set the stage properly. Also because that's how long it will take most people here to figure out how to short.

EasyPleasey

The rise to 100K had the following catalysts: 1) MSTR buying billions every chance they got 2) The election of a "pro-crypto" administration 3) Institutional ETFs, allowing boomer money to buy BTC 4) The rise of Stablecoins 5) The worst inflation in the last 40 years 6) And most importantly, the backdrop of a 13+ year bull run (minus a blip in April 2020) What else is there? You have to have more people buying into bitcoin for it to go up, that is the cold hard truth. Now: MSTR has cratered, STRC is looking incredibly unstable, and the only way out for them is to dump their bitcoin. Trump is 2 years in and really only cares about grifting (Trump coin) and the EU has halted a crypto exchange. We could easily see an anti-crypto candidate emerge in the US. Institutional money, who were already skeptical of bitcoin and don't understand it, have now been roasted, all while watching index funds do what they always do, deliver returns. They are not going to come back. Stablecoins are still around, but if some of these companies get audited things could go sideways fast. Inflation is much more inline with where it has been almost all of my life, you can't tell people their fiat is evaporating at 13% anymore. If the markets finally cool off, and I suspect they will if you look at the Shiller PE ratio, stocks are overvalued at almost the peak dotcom boom, many people (not bitcoin diehards, but the people that have bought in and pushed it up this much) are going to sell anything that is risky and retreat to safety. The fact that it has cratered like this during a bull market is a terrible sign.

MelangeBot

Why would any company buy BTC from MSTR at $59k right now if they can just wait till they are forced to sell and get a much lower price?

MelangeBot

Are you saying MSTR is not holding their own Bitcoin in custody but just has open long positions on various exchanges?

aaj094

Well, firstly it's a fact that MSTR stock appeals to those who want some leverage and therefore don't want to directly invest in mstr. Now if you want leverage, you cannot also wish that nothing forces you to sell sometimes at lows (leverage and rigid intent don't go together). So it is take your pick.

Slight-Fudge

"And then MSTR sells their first batch of Bitcoin and we go straight to 45K" I was excited until this zinger near the end

TrainingQuail543

Because if you buy MSTR you get the money from the STRC investors for free. They get 12% dividend, if Bitcoin does 20% the other 8% is added as value to your MSTR stock. If you buy an ETF you don't have that effect. In theory that is leverage with a low liquidation risk. To make a simple example: There are 10 MSTR shares. Each is worth 100$ You buy one Share for 100$. After that 10 people buy one STRC each for 100$ The value of one MSTR shares is now 200$ but the company has to pay a dividend of ~100$ per year.

MelangeBot

So you know that MSTR famously promised to NEVER take a profit if Bitcoin goes up but hold on forever so then if they keep their word where would the money to pay for a divident even come from?

MelangeBot

Actually a very good idea. Let me explain. With the news that MSTR is going to sell up to 1 billion dollars of Bitcoin everybody and their grandmothers expect the price to crash. So that means tons and tons of people are going to quickly open up shorts because they believe they are smarter then everybody else. As soon as everybody else believes they are smarter then everybody else some giant whales on the exchanges will go liquidation hunting. Pushing up the price till the people that shorted with 10x leverage, 5x leverage and 2x leverage all get liquidated. This is when OP should sell and then open a 2x leveraged short. That was he could do 40% on the way up and 40% on the way down doubling his money in one play.

Good-Book-6912

Why do people buy MSTR instead of some ETF? I think usually they will get more BTC exposure by just buying an ETF.

MelangeBot

So he is going to sell BTC and then buyback MSTR shares with it? Jesus he is setting it up to death spiral asap. Guess he is ready to buy MSTR puts with his personal (anonymous) account directly after every buy back (that will boost the price a bit).

ReliantToker

17 months of dividends cash. 4 year cycle is showing bottom early October. Doubt they will actually sell unless its to retire a convert. $1b is 20k tokens at these levels. Bitcoin trades tens of billions daily. If they did dump it all at once, which they wont its just an authorization not a certainty, there's more than enough liquidity in bitcoin. Individual whales move these amounts daily behind the scenes yet no one panicks or cries. Most retai dont see the transactions on chain. Only fixated on fiat price. MSTR operates transparently and gives information retail doesnt have to search for. Bitcoin will continue to Bitcoin.

Lopsided_Echo5232

I’m not MSTR bull , more a bear if anything, but still hodl and will hodl bitcoin. The fact that MSTR could have 5% of the supply, maybe what’s happening now is Bitcoin’s way flushing out excessive holdings of supply without providing tremendous real world value.

Tichy

I don't really understand how MSTR works, but I don't like so many BTC concentrated in the hands of one entity. So them by and by selling BTC instead of holding them forever seems like a good thing. Much better than a sudden elimination and flash sale.

Nettret

Thank you very much <3. I was aware of the mNAV they use, which is the 1.07 on their website, but I had no clue about the switch, as I don't really follow MSTR. But honestly, based on the information you presented, it seems that, value-wise, it might actually be a fairly priced company at the moment, as they finally provide what Saylor was selling to people when it wasn't actually true -> you get leveraged exposure to BTC, meaning that for 1 unit of cash, you get more than 1 unit of exposure to the underlying asset, which wasn't the case for the last few years, as he was promising this while you would actually get better exposure by buying BTC directly. That being said, my best guess is that the "we need more charts" comment means that he doubled down and will introduce some kind of buybacks or an equivalent mechanism to create a false sense of security. And he WILL be able to sell this idea to people, as it's even more economically complicated than what he was selling before (the leveraged exposure). I hate this, but sadly I believe he will be able to drag it through long enough to pass this cycle. Ofc he get fukdd if cycles are broken this time..

MECO-420

With 17 months of USD in reserve to cover the dividends, if they sell BTC now, its to buy back STRC or MSTR at a discount. Why shouldnt Saylor buy back STRC at $80 or $90 when they sold it at $100?

_BreakingGood_

Wait untill MSTR blows up, then buy. Their current funding gives them a maximum of 17 months, but it will probably happen before that

SilverPrivateer

To be fair most of the MSTR financial products were also made with AI

PresidentRevrac

How does MSTR pay for the dividends? What product does it produce? This screams some sort of scam

fan_of_hakiksexydays

"$MSTR can sit for 17 months and be fine" Famous last words. All the cope narrative of MSTR gives me such LUNA/FTX vibes, along with all the famous last words of all the shit that collapsed in this space in the past.

usrname_chex_out

Tbh I agree if I had to guess we go lower at least one more time, idk if that’s this week or October or some other time. The whole MSTR/STRC thing is nice to see though cause that’s definitely the kind of stuff that happens near bottoms. Maybe the bottom happens when they sell 1B worth of btc to cover dividends? Still 58-62k was good enough for me and I put in about half to 2/3rds of what I want to get in

HSuke

It's $1.25B on top of another $1B for STRC buybacks and $1B for MSTR buybacks. So about 55000 BTC total.

Infamous_Mechanic356

Selling your .2 btc is not going to rock the market.... MSTR Selling 2 Billion in btc might have some effect.

Local_Math_5512

The people in this sub are horrible with money. STRD was literally trading at $50 earlier this month. MSTR sold those shares at $100 a share. Why wouldn't you want MSTR to take the opportunity to buy those share back? If you sell something for $100 and buy it back at $50 then that means you profit $50 while simultaneously reducing liabilities. Do the math people.

PopLegion

Bears making liquidation event scenarios is retarded yes. What is much more likely is MSTR becomes a perpetual seller of BTC for years on end as they never recapture 1.0 mnav, and BTC needs to deal with a constant downwards pressure for years. If saylor can't raise money through ATM offerings of MSTR or STRC, 1.5 billion a year minimum of selling from saylor. Def worth keeping in mind if you are long BTC. As for MSTR and STRC investors today, I feel sorry for them. I'm sure many made money, but the ones left will become bagholders.

HSuke

Basic mNAV is a very simple formula: (total MSTR mcap) / (total value of BTC held) Their website shows enterprise mNAV, which they quietly switched to late 2025. All 3 types of mNAV can be found here https://bitcointreasuries.net/public-companies/strategy

ds3101

Forgot to include that I’m not buying MSTR lol. But just market sentiment in general

Special_Trifle_8033

MSTR went up over 12 percent today so clearly the market thinks it's good.

BitcoinBaller420

ok well if you feel that way due to a desire for self-sovereignty for yourself, good on ya. If you feel that way because say you don't think MSTR represents leveraged Bitcoin exposure in a portfolio, then meh another closed-minded early bitcoin adopter who doesn't understand their worldview isn't the only one and that philosophical choices aren't objectively corrrect, but what else is new, this cohort's mental inflexibility is not news.

nafnaf0

Yep. They can now fund MSTR stock buybacks by monetizing BTC. Because MSTR shares often gets depressed far more than Bitcoin during the bottom of bear markets, selling BTC at bottoming to repurchase those heavily discounted shares creates value for the common shareholders. It is an active treasury maneuver capitalizing on market volatility and buyback discounts to structurally increase shareholder value when it is most advantageous.

supermanal

The four year cycle bottom is usually this October. If it is, I’ll be buying more MSTR.

OkRip7540

If they're just going to issue more MSTR, why even spend a billion dollars on MSTR buy back?

wolfenstein734

Im assuming they sell BTC to buy back STRC then resume buying BTC by issuing MSTR?

ClearSnakewood

Whole industry is under attack. This space is not just supply and demand. There’s also incentives. Big banks and Wallstreet have all the incentives to attack us. And price dumping so aggressively is not just OG’s and whales dumping. You’re telling me that whales and OG’s are also selling MSTR and COIN stock in paralel during US market trading hours? Lol. They hate crypto and everything associated with it. We are under attack. I say F them.

Rock_Strongo

> If it falls or just languishes, mstr can run into problems. Obviously. But this question is whether MSTR is a ticking time bomb not whether they might eventually run into some problems. Even in the most pessimistic realistic scenarios, they are fine until 2029 or later.

fan_of_hakiksexydays

It sounds more like they are using the news to facilitate an exit liquidity opportunity. Because let's be real, that's not a good news at all. That's the very thing MSTR doomers have been warning about, and will now just accelerate the problem.

SilverPrivateer

One month ago I posted this, and you called me crazy. Well, the MNAV went below 1.2. Then below 1. There's no more playtime. Now Saylor is preparing to dump billions on your head. You had your warning. Now you get the consequences. "Dear Bitcoiners, Hope you're enjoying the pump! Just remember - you would be at 35k without us. Did you read the latest Saylor tweet? "Buy more bitcoin than you sell..." That's right. If you allow our stock to dip below 1.2xMNAV, it now becomes accretive to shareholders to sell BTC to buy MSTR. That's right. Your precious coins will get a big, stinky dump. This is a threat. The MSTR army is kind. But we will not tolerate betrayal. You scratch our back, we scratch yours. You support our chart... we support yours. But if you lets us fall, we're taking you with us. We stink on you and all MSTR holders get bitcoin gain from the sale. That's right. We gain bitcoin, you get agony. Your final warning, from the MSTRer army. So let's keep this pump going... it would be a shame if the music suddenly... *stopped*"

Bred_Slippy

S&P flagged that because MSTR doesn't generate meaningful dollar cash flow and doesn't sell bitcoin to fund operations, it has very low dollar liquidity. A bigger issue is, under S&P's current methodology, bitcoin is excluded from equity calculations due to their perception of its volatility and uncorrelated market risks, so they deduct bitcoin holdings when calculating adjusted common equity.

devCheckingIn

They already announced a 12% dividend. Both STRC and MSTR are up +13% today so I think the market took the news well.

OkRip7540

>one of the criticisms from the rating agency S&P was that they were committed not to sell any Not quite, the concern was "currency mismatch" - Strategy claimed BTC as a liquid currency reserve but S&P disagreed and gave them a "junk" rating. S&P couldn't care less about willingness to sell or buy BTC, they care about the end state of the balance sheet and Strategy has been carrying low cash reserves for a while and that presented as a risk. Bringing cash reserves up to $2.5 billion helps to bring their balance sheet in line with modern risk thresholds - how they fund that cash raising effort is entirely up to them. Strategy doesn't need to sell BTC to fund cash reserves, they can sell equity via MSTR or STRC to do so

fan_of_hakiksexydays

They already had to raise the dividend on STRC from 9% to 11.5%, and will either have to dilute MSTR even further or raise the dividend even more. So whatever cash they had for the next 2 years, is getting depleted quicker than expected. Not that 2 years looked like it was gonna be enough anyway. People are still abandoning ship and not willing to come back, so that 2 years narrative wasn't enough to inspire confidence.

thinkingperson

Based on the charts, most recent date for op to have bought MSTR and "lose" 76%+ is 6 Oct 2025. MSTR is doing what it does, multiplied BTC both ways. If op and wife bought bitcoin then, it would have been at 125k, at the market peak, they would be down 53k. They would be complaining that they lost 53%!! Boohoohoo

snek-jazz

You think MSTR won't last 2 quarters despite having $2.5B in cash, and obligations which are much lower than that? !Remindme 6 months

ZUU_Music

*"They need to sell BTC to save both MSTR and STRC from plunging even further"* The irony.

MysteriousJaguar4577

This is BS, if anything he will be buying more BTC, he just sold more MSTR to cover and dividends owed for the next 17 months … do your research bro. !!

cptcolo0

MSTR stock is up 13% today, STRC is up 12%

BitcoinBaller420

No. The reason is that the returns from the credit are far too strong to justify a 100% capital portfolio even for someone on a bitcoin standard… except for those who are all in on self-sovereignty, which in a cruel twist of fate, is all the early INTJ-adjacent adopters of Bitcoin lol.  Assuming your goal is buying power appreciation, a mix of Bitcoin, STRC, and MSTR will create a significant improvement for return on risk over an asset that already shines in this department.  Good luck to you. 

Checkmate327

Are you one of the ones that payed a premium on bitcoin not to own it (aka buyinng shares of MSTR)??? Lmfao. this stock is for trading, not long-term investing.

Resident_Upstairs965

Read the entire conversation. Remember, it is at rock bottom when stock gets manipulated up. Where is the rock bottom? Ppl thought it was $200 price after tanking from 427. But then it kept steadily go down to 150 then stay afloat around 130 then sub 100. Ppl thought maybe once it hit 98 it goes back but it kept dipping. Crypto dying? No. MSTR not being invested simply because there are so many stocks out there (MU, KORU, INTC, UNH) to just name a few. Why would ppl DCA on MSTR when those pay 2-6x???

Bred_Slippy

Although they may, I think they've mainly done this for optics (one of the criticisms from the rating agency S&P was that they were committed not to ask any). MSTR are really gunning for a better rating from them to attract more institutional money into their prefs. 

HSuke

MSTR was mass banning everyone. That's why the r/STRC sub grew.

HSuke

All their shareholders were pissed off they kept diluting MSTR, and their STRC shareholders were pissed off they were letting it free fall without any communications or long-term cash reserve. Today's announcement was the most sane and self-preserving thing they've done in the past month. They need to sell BTC to save both MSTR and STRC from plunging even further.

snek-jazz

> I could have always bought NVDA for 5 bucks the same day MSTR made it's first BTC purchase. The difference is I didn't know how to identify NVDA's run since then. I'm sure plenty of AI experts or people in the chip industry made money. I know bitcoin and MSTR better, so that's where I had an edge. The only timing I needed was when to buy, and that was measured by FUD-level and mNAV and the usual signs of a bear market bottom. I don't think I can time tops as easily, but I know that at $200, and then $300 and then $400 that I'm happy to take some off the table to rebalance.

HSuke

Thank god they finally listened to reason after clowning around for the past month. All their shareholders were telling them to stop diluting MSTR and stop letting STRC free fall. Selling BTC was inevitable if they didn't want their share to crash even further.

00MacDonald

Dude it's not that hard, if you compare MSTR to BTC from the very first day they announced their first BTC purchase to today, you would clearly see MSTR has not been worth it. No risk premium at all, every MSTR dollar would be down compared to every dollar spend on BTC. And it's a pattern you can see for like 80% of the chart 08/11/2020 to date MSTR vs BTC. You can try to time it all you want, but 80% of the time you would be on the wrong side of the equation. not worth it. We can all try and time the market, and in my personal case with MSTR as much as I would have liked to sell at 400 or buy at 14, I still did extremely well with it. I could have always bought NVDA for 5 bucks the same day MSTR made it's first BTC purchase. Nothing changes the fact that from first BTC buy to today, MSTR has not been worth it compared to BTC. That's plain to see.

CryptoDeepDive

It's a public ally traded company. You can read their filings. I don't invest anything in MSTR, so if they burn it all I would be a very happy Bitcoin holder.

CryptoDeepDive

MSTR doesn't custody their Bitcoin directly. They use institutions like Fidelity and Coinbase custodial services. Saylor won't be able to burn the Bitcoin even if he wanted to.

snek-jazz

MSTR I bought for $14 went higher than $400. As someone who trades a bit, and rebalances a bit, it was absolutely fine compared to the risk, from my point of view. I think there's less upside now, but it remains to be seen if, or by how much, MSTR over-performs in another bull market.

00MacDonald

By virtue of its strategy, MSTR carries more risk than BTC. The performance of MSTR over the course of the last 5 years compared to less-risky BTC does not justify buying MSTR at all. I still own both, but I can be objective about MSTR. (I can buy BTC and MSTR just fine in my jurisdiction)

nafnaf0

They can now fund MSTR stock buybacks by monetizing BTC. Because MSTR shares often gets depressed far more than Bitcoin during the bottom of bear markets, selling BTC at bottoming to repurchase those heavily discounted shares creates value for the common shareholders. It is an active treasury maneuver capitalizing on market volatility and buyback discounts to structurally increase shareholder value when it is most advantageous.

PunchTheMonky

Anything can happen. \-MSTR can cause an epic implosion like when Mt Gox went down. \-Stock market can go bullish and bring in big money through the Btc ETFS. \-Stock market can panic over AI balance sheets and cause a mild downturn. \-Clarity act passing and getting signed into law before midterm elections can cause a mild boost.

beerbaron105

Once again MSTR is poised to become one of them most valuable companies on earth, leaving bears completely speechless. Willing to play the long game  Remindme! Five years 

korean_kracka

MSTR’s average price for their 850k btc is $75k. They are $12,750,000,000 in the red in their bitcoin holdings alone. This is not counting the debt. But everything is fine

snek-jazz

You'll find plenty of junk bonds offering rates in that range, that are not scams, they're just deemed risky. The question is whether the risk is correctly priced or not. MSTR depends on bitcoin's success. We know this.

Prnce_Chrmin

MSTR is the new Tether. It will blow up any second now! /s

nafnaf0

MSTR investors are well aware of this already. If you follow their statements and earnings calls, this comes as no surprise. I have seen a lot of people arguing otherwise, or saying other non-sense like they will just not pay the STRC dividends as opposed to selling the BTC if needed.

snek-jazz

and yet nothing happens. For example, if bitcoin goes back to 120k what will be different about MSTR, than if bitcoin had not gone under 75k?

thinkingperson

Well, then MSTR will indeed never sell lol

snek-jazz

the best times to buy MSTR have been when the FUD is at it's highest, I know because I've done it.

patatepowa05

hes not really retarded, hes just responding to market forces, they always get the best capital raises during positive momentum. The real retards are the MSTR investors.

Huckleberrysdick

When the largest holder of BTC starts selling for liquidity, the downward pressure on price snow balls. RIP MSTR.

snek-jazz

nothing specific happened to MSTR at that threshold either

whisperedstate

If you bought MSTR at $14, then you bought it in August of 2020, at which time BTC was trading around 10k. To match BTC's return (6x), you'd need to have bought under $14, around $13.50. So you actually made out worse than if you just bought BTC. The tax advantaged situation I have no idea about. In my country, you can buy any ETF in a tax advantaged account.

RevolutionaryArea532

I think they mean specific to MSTR, not that there's a specific impact to the entire ecosystem below $75K (other than holdings being worth less).

PrestondeTipp

Sell MSTR shares: - use the proceeds to fund preferred dividends and preferred share buybacks Sell Preferred Shares - use the proceeds to fund the purchase of dividends or buy back MSTR shares  *** What's missing in all this? Earnings! This is just an inefficient money recycler

WeddingPKM

There has to be some very real fear that the MSTR keys will get “lost” as well if anything really goes down.

snek-jazz

I've owned bitcoin since 2013. I've also owned MSTR since it was $14, during which time it has gone up more than btc, and I understand why it has. Additionally one reason I own MSTR is that it's in a tax-advantaged account where I can't buy spot, or bitcoin ETFs.

whisperedstate

MSTR's mnav is 0.99 right now. IF your thesis is BTC go up, why in the world would you do that through a complex set of intermediaries like this instead of, I dont know.. buying BTC? You even have the option from your bank account.

DaveLLD

I mean the absurdity of a "I talked to an LLM, and this is what it said", the entire history of cryptocurrency is basically people like Michael Saylor saying something, everyone believing them and heckling / downplaying critics until the financial realty finally catches up, the wheels fall off and tons of people loose a massive amount of money. Then everyone says, how could you not have known. Am I saying this is guaranteed to happen with MSTR? No, but I have heard very similar sounding songs for years, and they've all ended one way, despite each time everyone saying "but it's different for this reason". On it's face it seems silly to buy a company who's only activity is to buy and hold bitcoin when you could just buy and hold bitcoin yourself.

gigasawblade

Not his loss, MSTR "investors" loss

CryptoDeepDive

His keys, for his wealth. Not the MSTR keys.