$Strategy(MSTR)$ Some were declaring MSTR dead and bankrupt last week, among other things. This week it's the top stock on the Nasdaq. It seems like the smart money isn't paying attention to that kind of noise.
$Strategy(MSTR)$ BTC.XMSTR's execution of its business model changes has been spot on, a textbook case. As Bitcoin moves, they adapt. First, they were selling convertible debt, most of which converted to stock. The remaining $6.7b is far out of the money. They've retired a lot through preferred sales, which reduces the threat. Second, they sold a pile of preferreds and used the proceeds to buy back debt and acquire more coins, even as Bitcoin fell further. Third, the new plan addresses retiring common shares and preferreds at huge discounts to the coin's value. It's not necessarily the plan they wanted, but it's classic capital structure management. It's all textbook, nothing new, but the speed of their adaptation is remarkable, in my view. I
$Strategy(MSTR)$ I tend to think that shorts are worried as BTC maintains above $70K, and they are desperately trying to frighten long retail investors.
$Strategy(MSTR)$ keeps buying Bitcoin with conviction, viewing it as significantly undervalued. Bitcoin's annual production is just 164,250 coins, yet $Strategy(MSTR)$ acquired 225,000 in the past year. That represents 137% of annual output. $Strategy(MSTR)$ alone could absorb all new production and more. Tether allocates 15% of quarterly profits to Bitcoin, purchasing 8,888 coins last quarter. That accounts for 22% of production. Japanese firm Metaplanet plans to acquire 210,000 Bitcoin by 2027, intending to buy over half of production for the next two years. Such concentrated demand creates supply tightness.
$Strategy(MSTR)$ Look at that magic nunber showing up, just above $75K for BTC. Amazing. And with no new news. Amazing. It's like it was predestined to be. Maybe it was.
$Strategy(MSTR)$ When $Grayscale Bitcoin Mini Trust(BTC)$ breaches certain key levels, some predictions might appear visionary. While market opinions diverge, technical patterns indicate potential upside. Current market structure shows aligned conditions.