Oh, the memes.

Anyway, last week while bitcoin was dying, Strategy sold 32 BTC (caused it to die??) at $77,135... and then printed 801,994 new MSTR (0.2% dilution). AND, reported today, they purchased 1,550 new bitcoin (at $65,332...) while printing 1,409,600 shares (0.4% dilution).

The mNAV was definitely not in accretive mode, and quick back-of-the-envelop calcs suggests that increasing your stash by ~0.18% by diluting shareholders ~0.63% can't possibly be good stewardship. But what tha hell do I know.

Nice little turnaround trade (sell at 77, buy at 65)... doing something similar, I guess I can't be too aggro??

AAhaaa, suckers, we're not dead yet!AAhaaa, suckers, we're not dead yet!

...we just destroyed capital, extracted wealth from our shareholders, and caused headlines.

Also, their new slogan is PRINT SHARES, NOT MONEY!

jkjks.

I dunno, man. Maybe this is all just genius-level financial play (until you get rugged by Uncle Sam... or Coinbase hackers). But it's kind of ridiculous.

Can't wait for these fuckheads to die outCan't wait for these fuckheads to die out

Here's the summary worth having, and the convo we should have had last year:

Bitcoin will be fine long term. It’s no one’s liability l. It’s actually better if this DAT crap gets flushed out now. No one will go near a DAT again. It reminds me of the blocksize wars. Same shit talk from the big blockers back then. The STRc maxis are the big blockers this time.