— Michael Saylor, MicroStrategy
Strategy’s preferred shares spell out an unfortunate acronym: FCKD
Several people have cheered on the FCKD joke, encouraging Saylor to issue a preferred stock with the ticker symbol STRU.
Results for Spotlight, MicroStrategy
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— 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.
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.
— Michael Saylor, MicroStrategy
Strategy hasn’t sold any STRC through ATM since July
Michael Saylor has been particularly optimistic about expanding STRC domestically and abroad, yet his STRC ATM sales to date are $0.
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.
— Michael Saylor, MicroStrategy
Michael Saylor was selling MSTR ahead of S&P 500 decision
Strategy was selling hundreds of millions of dollars worth of MSTR ahead of the company’s disappointing S&P 500 Index news.
— Michael Saylor, MicroStrategy
Michael Saylor diluted MSTR by $735.2 million after saying he wouldn’t
Since revoking his promise not to dilute MSTR to buy BTC between 1-2.5X mNAV, Michael Saylor has diluted by another $735.2M.
— Michael Saylor, MicroStrategy
MicroStrategy abandons MSTR dilution promise after mNAV drop
Anti-dilution guidance from MicroStrategy only lasted two weeks. In its place is revised, vague language about ‘advantageous’ conditions.
— Michael Saylor, MicroStrategy
The great MSTR Ponzi scheme debate
Tensions are escalating in a spirited debate between MicroStrategy (MSTR) investors and skeptics about whether the stock is a Ponzi scheme.
Are bitcoin treasuries mirroring the 1929 investment trust collapse?
Bitcoin (BTC) treasury companies today share certain similarities with mania of US investment trusts from the Roaring ‘20s.