I’ll post the whole post tomorrow since I’m recovering it, but in my mind there are several issues:
1) The caliber of the board hires is top notch, one of them was running transition for the Biden administration.
2) All for selling about $50M per year to the US Government. They could have hired much much lower profiles if it was only that.
3) Timing was right after starting the Bitcoin strategy.
4) No clear communication to investors- had you heard that Strategy did highly classified work?
This, plus other things, paints a potential picture of covert accumulation. Confirmation in my mind will be if when BTC price recovers, MSTR burns through the equity ATM pinning the mNAV to 1. Meaning that stock price is secondary.
