@khaleelkazi's thread

Michael Saylor just sold $653M MSTR stock and $108M BTC and he's going to make the BTC price skyrocket

$650M added as cash to their USD reserve
$108M swapped from BTC to STRC buybacks

WTF is he really up to?

STRC was cratering. It crashed all the way to $71 per share on June 26th

While the haters were whining, Saylor hatched a plan (with ChatGPT?) to rebuy STRC by selling BTC to do it

It doesn't make much logical sense: afterall, he just spent years issuing and selling STRC in order to buy BTC (at a higher price, I might add)

So now he's doing the reverse trick: selling billions of dollars worth of BTC at the lows in order to buyback STRC and return it to their $100 peg

Saylor is either the same as every dumb average retail trader who buys high, can't hodl through the bear and sells lower OR he is playing 4D chess with the STRC peg

If he pulls this off, he will return and maintain the STRC peg through buybacks while proving to long-term investors that if STRC ever gets low, he will sell BTC from the balance sheet to buy it back

The name of the game is confidence. If people are confident that Strategy will prioritize the STRC peg EVEN at the expense of selling BTC, then people will buy STRC now and in the future

Saylor is not looking at the short-term losses of selling BTC lower than he bought it. He's looking at the long-term gains of being able to issue & sell STRC later on to buy more BTC forever

While most people think he's an idiot for selling lower than he bought, I actually think this is genius

Teach a man to fish and he will eat for a lifetime..

Protect the STRC peg and Strategy will be able to buy BTC forever. Let it dip and the confidence erodes and he will just have what he has now

Saylor has made it clear that his goal is to be a permanent BTC buyer. If he has to sell some BTC in the short run in order to stay in the game as a perma buyer, then he will gladly smash that red button