Strategy copycat Satsuma crashed 99%, liquidated treasury
Mark Moss’ Satsuma Technology sold all 669 of its BTC and will return £30.7M after the company crashed 99% from its 2025 peak.
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Strategy dumps 3,500 BTC in largest sale… yet
After predicting a rally that didn’t arrive, Michael Saylor waited for a 52% drawdown and sold at a loss to Strategy’s BTC cost basis.
Ambitious developers are biggest risk to Bitcoin, says Michael Saylor
Michael Saylor has said that the greatest risk to Bitcoin is ambitious opportunists advocating protocol changes.
Michael Saylor: We can solve quantum by freezing Satoshi’s BTC
Michael Saylor’s latest tweet about hard forking BTC for quantum security has his followers hoping it’s AI slop.
Top crypto execs cash in as stocks collapse
Compensation to executives of crypto companies has remained high, no matter how poorly their stock prices perform.
CHART: mNAV down across bitcoin treasury companies
The premium that investors are paying for BTC treasury companies continues to decline. In other words, mNAV compression is real.
Strategy’s mNAV falls to 19-month low as BTC outperforms
Strategy common shares have fallen to a 19-month low multiple-to-Net Asset Value. The basic mNAV of MSTR is now just 1.21x.
94% of Strategy’s bitcoin buys since August were from diluting MSTR
Since Strategy removed a ban on ATM share sales between 1-2.5x mNAV six weeks ago, MSTR dilution has paid for 94% of its BTC purchases.
Does Michael Saylor even understand Bitcoin Core vs. Knots?
Bitcoin Treasuries NYC Unconference attendees hoped for a better answer from Michael Saylor about the ongoing Core vs. Knots debate.
MSTR outperformed bitcoin on just 22 days in the past year
MSTR investors have grown accustomed to outperforming BTC, but they've actually underperformed it for 90% of the past year.