Hey Stefan - I wonder what you think about the sale of Saylor?
•
11
•
@RenditeRudin Hi :)
I have rather "mixed feelings" 😅
On the one hand, it was absolutely clear that they didn't have to sell these 32 BTC. They already had the capital for the dividends through share dilution and their US dollar reserve would also have to be added.
Accordingly, the sale was probably intended to have more of a symbolic effect.
"We can sell if we want to"
This has several effects. Suddenly it becomes clear that the dividends from the preference shares can be trusted more. After all, there is a huge Bitcoin stack that could be sold if necessary.
In addition, Saylor has already said that the BTC on the balance sheet is worth nothing to rating agencies if it cannot be sold.
And on the one hand they want a rating for their preferred shares and on the other hand they want to be included in the S&P.
In addition, Saylor had said that it would not be a problem for the market if Strategy sold BTC. If that's what they were trying to show, it backfired cleanly.
In my opinion, they should have done this in a bull market. The fact that they are selling such a small amount now in the middle of a bear market is causing panic and investors are getting scared that Strategy will implode and take Bitcoin down much further. So why they did this right now, I don't understand. I can understand somewhere that they did it.
Even if it is, of course, the next breach of promise by Saylor and co.
I have rather "mixed feelings" 😅
On the one hand, it was absolutely clear that they didn't have to sell these 32 BTC. They already had the capital for the dividends through share dilution and their US dollar reserve would also have to be added.
Accordingly, the sale was probably intended to have more of a symbolic effect.
"We can sell if we want to"
This has several effects. Suddenly it becomes clear that the dividends from the preference shares can be trusted more. After all, there is a huge Bitcoin stack that could be sold if necessary.
In addition, Saylor has already said that the BTC on the balance sheet is worth nothing to rating agencies if it cannot be sold.
And on the one hand they want a rating for their preferred shares and on the other hand they want to be included in the S&P.
In addition, Saylor had said that it would not be a problem for the market if Strategy sold BTC. If that's what they were trying to show, it backfired cleanly.
In my opinion, they should have done this in a bull market. The fact that they are selling such a small amount now in the middle of a bear market is causing panic and investors are getting scared that Strategy will implode and take Bitcoin down much further. So why they did this right now, I don't understand. I can understand somewhere that they did it.
Even if it is, of course, the next breach of promise by Saylor and co.
•
11
•@stefan_21 Thanks for the interesting comment :)
••