— Michael Saylor, MicroStrategy
Strategy needs to pay $689M a year to not sell bitcoin
Strategy has to pay $689M to not sell any of its BTC, and those costs have increased every quarter since 2021.
Aaron Wise
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— Michael Saylor, MicroStrategy
STRE is nothing like what Michael Saylor promised on Thursday
Strategy founder Michael Saylor repeatedly promised a roll-out of STRC counterparts but instead he launched STRE.
— Michael Saylor, MicroStrategy
Strategy diluted MSTR by $54M but only bought $46M of bitcoin
Strategy diluted shareholders by $69.5M but bought $45.6M of BTC. These 183,501 extra shares accreted less than the proceeds to its treasury.
— Michael Saylor, MicroStrategy
Strategy earnings puts tiny STRC front and center
Strategy released its Q3 earnings yesterday, spending vast amounts of time on its newest, (and relatively small) preferred stock, STRC.
— Michael Saylor, MicroStrategy
What to expect on Strategy’s Q3 earnings call today
Strategy is reporting earnings today after the market close. Here are the top seven things investors expect to learn.
From Ripple to Solana: crypto-TradFi partnerships that go nowhere
Investors have almost given up hope that the Solana-Western Union link-up will differ from every other failed crypto-TradFi partnership.
Scott Purcell-linked Fortress Trust fails like Prime Trust before it
Two crypto custodians involving Scott Purcell both collapsed after a disturbingly similar pattern of financial mismanagement.
Bitcoin’s OP_RETURN war just went nuclear: a chain fork proposal
A proposed Bitcoin fork would commence an activation period for updating consensus rules to limit storage unrelated to the movement of BTC.
BTC from 2011 moves after ‘Salomon Brothers’ repossession notice
A 2011 BTC wallet moved over $400M after a supposed deadline of "constructive possession" relating to the Salomon Brothers brand elapsed.
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.