Not very humble of them

FWIW, the best ponzis are the humblest ponzis.

"I love Bitcoin, buy my shitcoin." New distractions, same old story.

Isn’t btc growing over 11.5% a year enough to cover STRC dividends?

Mstr sucks, always has

The STRC obligations are denominated in dollars. From a pure purchasing power angle, this means the burden will decrease over time if bitcoin continues rising in purchasing power. They can turn off issuing more STRC anytime.

Just stacking a hard asset using other people’s worthless fiat. No difference from blackrock.

its closer to BTC growing 1% to cover dividends with the way it is set up between the 24-32 months USD reserve & common stock ATM they have a fortress balance sheet >Lloyds of London already soon to be > Berkshire Hathaway

People finally starting to question his strategy & I love it. I been watching his videos where he’s been saying he’s “stripping away the volatility” by buying bitcoin & transferring it to MSTR & I thought that was kind of interesting take on his part

STRC gives MSTR a premium. It’s like debt with no principal to be paid, how much of that would you take to buy bitcoin? MSTR sells premium to STRC dividend. Premium is relative to Bitcoin/share growth. MSTR carries the rest of the upside. Principle + (CAGR - 11.5%). Of course Bitcoin has to go up for the company to keep growing, but don’t you need Bitcoin to go up as well? I think you’re just jealous.

Hhaha

The MSTR premium dynamic is fragile—retail can’t indefinitely absorb dilution if BTC stalls. Reminds me of Eli Lilly’s $2.75B bet on unproven AI drug assets: premiums hinge on narrative faith, not just fundamentals.

The Board

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thooper thycle

STAY HUMBLE AND STACK SATS AND NOT MSTR 🩵

coming thoon

Borrow dollars to buy BTC. Sell BTC to pay interest on that loan. As long as BTC goes up faster (on average) than interest on your loan, you're good. That is the simple model for speculative attack that Strategy is using. (except that interest on the loan is in the form of dividends on STRC; and, selling BTC is in the form of selling common shares of a company that is almost entirely valued in BTC). They don't really need MSTR to trade at a 'consistent' premium as long as their dollar reserves are enough to pay divendends through the downturns (which they are consistently reserving enough for like 2 years). All that being said, if this sounds like an endorsement, it's not. This all adds up to more risk than just stacking unlevered sats... then, add to that all the additional inherent counter-party risk (probably more like the risk from having 3 counter-parties). Who - other than degens - really wants all that headache?

Are you saying mstr and strc are not bitcoin? View quoted note →

there is no second best.. ..just buy Bitcoin and do self custody

Self custody the real asset, BTC. Discussion over. If you need to earn a yield on your fiat, build a business and hold real assets.

It’s clearly working. They started in Aug 2020 with $600m cash treasury and now it’s a $50B BTC treasury. Of course the plebs should just hold BTC in self custody AND use it as a MOE. This is an attack on tradfi that will force their hand to Bitcoin backed assets rather than fiat backed assets.

The premium is the whole trick. If MSTR ever trades like a normal company, the yield story turns into a very expensive prayer

Treasury market excluded from this group

Not humble but big guns.

Not a doubter, here. The math is pretty straightforward. As I say though, "I could be wrong. The future reveals all."

As long as the BTC they buy is appreciating faster in the long run than dividend expenses, they could always just sell some of that BTC to pay dividends if they had to - regardless of an MSTR premium or not. The premium just provides an option to sell more MSTR instead of selling BTC outright.. That is to say, the MSTR premium is somewhat incidental vis a vis the business model. The real trick is not going too long with BTC not appreciating faster than dividend expenses.

Disappointing