Bitcoin24h $78,420.98-0.73%

Ethereum24h $2,438.20-1.85%

BNB24h $693.28-1.91%

XRP24h $1.43-4.04%

Solana24h $96.30-4.31%

TRON24h $0.3353-2.91%

Hyperliquid24h $80.32+1.66%

Dogecoin24h $0.0859-5.07%

Zcash24h $770.11-7.54%

UNUS SED LEO24h $9.33+0.33%

Michael Saylor missed out on a $33 billion profit at Strategy

Michael Saylor’s Strategy had a golden opportunity to profit $33B just four months ago. Instead, it’s lost billions.

Bitcoin fell below Strategy average buy price overnight

The price of BTC fell below $74,600 last night which was less than Strategy’s average buy price of $76,052.

Michael Saylor has said that the greatest risk to Bitcoin is ambitious opportunists advocating protocol changes.

Strategy preferreds were supposed to fix the problems with bonds, such as principal repayment, but instead they brought a raft of new issues.

The manager mistakenly claimed that Strategy’s BTC collateralizes shares of its stock, even though it doesn’t.