u/Emergency-Motor-7329

Strategy has 70 years of dividend coverage in the bank... your dividend payments are safe. Now, let's get back to par!

https://preview.redd.it/rl1tn0wc2z9h1.png?width=828&format=png&auto=webp&s=2ba45206a2fbf5235cad3e706963910e5a306b08

• 13 Billion Dollars worth of loss on Bitcoin holdings
• MSTR down 29%
• STRC down 18%
• .58 Basic mNAV and .98 EV mNAV
• Class action lawsuit brewing
• Sentiment worse than ever
• Marginal buyers of Bitcoin / MSTR has jumped ship to AI and Polymarket

Strategy holds ~845k BTC. The thing keeping it off the market is their access to financing. Those channels have now dried up.

• mNAV under 1. Issuing common now destroy BTC per share. Flywheel is broken.
• STRC trading $75. ATM issuance stopped. Market has completely rejected the product.
• Converts deep out of the money (conversion prices $150 - $670, stock in $80s).

The bills don't stop. The dividends run 1.7B per year + 6.7B of converts due 2027 / 2028 / 2029.

MSTR is pretty much out of options the way I see it. Their cash reserves are shredded and all their funding sources are closed or deeply problematic.

The biggest net buyer of Bitcoin will become a net seller. How will this affect the Bitcoin price?