I don't claim to be Mr. Smartie pants, yet I have made several posts on the topic that from my perspective, MSTR should have established systems in which they buy bitcoin no matter what every single week, so they have a budget for the buying of bitcoin, and yeah, even though I never mentioned the various dividends or products that have "guaranteed" or somewhat guaranteed payments, it would logically follow that those kinds of funds should be somewhat shored up, even though having reserves to pay several years of those kinds of expenses may well seem to go beyond efficient use of money, yet having enough funds to last at least through a whole cycle (which maybe even beyond 4 years) would seem within the realm of prudent.  

Of course, even though MSTR is a public company and they have quite a few disclosures of how they handle their finances, they might not necessarily share all of the exact particulars in regards to either execution or plans of what to do under various scenarios.. and many of us know that giving too many details can sometimes work to a disadvantage, especially when so many haters exist in the real world who would want to exploit whatever execution vulnerabilities might exist.

I find the timing a bit awkward on MSTR's current decision to create reserves since it comes off as defensive rather than proactive, even though it was likely a reasonable thing to do that should have already been done when BTC prices were higher and when there were various premiums rather than scrambling to accomplish during times that are not seeming as good for the company and/or the BTC price.. In other words, any proactive move would find these times as buying bitcoin rather than preserving and/or holding back dollars.

i am not going to be any kind of pro about buying on the way down and selling on the way up (which is my own personal practice), and surely when the BTC price goes down beyond expectations, I tend to run out of money to keep buying or at least, at some point, I have tended to have to end up having to reduce my BTC buy amount. .and I have gotten better and better at it through the years, yet a decently BIG company with so many bitcoin, legal and/or financial experts, they should be able to figure out way better systems than my own cashflow management systems, even if they are using way more sophisticated techniques than me, including their use of debt, credibility and other people money and/or confidence, which are things that individuals do not usually have to contend with.


Of course, I don't claim to know all of MSTR specifics, yet I know that many MSTR naysayers love to jump on the bandwagon of their ongoing impending doom, which is an exaggeration in the other direction which you have frequently been guilty of.

MSTR has frequently used other people's money and they have not overly encumbered themselves, and so the mere fact that they have some debts to service remains a pretty big so what in the whole scheme of things.

Yeah they own 650k bitcoin, and even if 1/5 of those BTC were encumbered in some kind of way, that would surely be manageable instead of presuming that MSTR is about to go under because they have some debts.  I doubt that MSTR is even close to 20% encumbered in their bitcoin holdings... yet the naysayers love to harp on unspecified implications that MSTR is overdoing its debt and blah blah blah.  Nonsense.^**

**  Edit: Of course, we could go by Fillippone's numbers and see that their debt service is about 10% of the value of the bitcoin holdings - which is higher than I had anticipated, but it is still a fairly reasonable number


Who gives any shits what Wall Street likes or wants?

Yeah, we already know that "WallStreet" is not very excited about MSTR since MSTR is largely speculatively attacking wallstreet with its use of debt and its investment into bitcoin... Saylor tries to talk all nice and formal about what they are doing, but it continues to be a speculative attack.. so why would Wall Street like that?..


Of course, anyone who is against MSTR, they are going to go on the attack and even spread FUD when there are opportunities to try to use the negative momentum to their advantage.  What else is new?


Sure.. He could have probably done it at a better time, but so what?  You seem to just love any opportunity to say "I told you so," when the fact of the matter is that you are more full of shit in your own kind of opportunism to jump on the band wagon.

Many folks already knew or should have had known when MSTR is purposefully playing around with leverage than its performance is going to be levered too.. so guys who fuck around with leverage by buying and/or selling MSTR to try to take advantage of such leverage, they might profit greater than usual or they might get burnt greater than usual by getting themselves on the wrong side of the trade.

Maybe instead of getting  excited about MSTR, you should make sure that your own bitcoin holdings are in order?  Yes there can be negative ramifications to the whole bitcoin market based on various players within the bitcoin market, yet at the same time, do you have your own situation figured out.  Yes, I know that you are likely not playing MSTR.. (I don't blame you for that),.. but what about the underlying?  Have you been scared away from the underlying too?  There are plenty of folks who get distracted in their own bitcoin accumulating and/or maintenance strategy based on what is happening with others and even quasi-irrelevant metrics such as "sentiment".. The reliance on quasi-irrelevant metrics can contribute to your own failure/refusal to build and/or protect your own bitcoin situation.


Yes.. a lot of this does depend on bitcoin's price performance in the coming year or two...

Your ongoing bashing of Saylor and MSTR contributes to my own wondering if you even know how to discern value in the bitcoin space, since yeah, Saylor/MSTR has inspired a lot of copy cats, and he has been engaged in attempts to evangelize various corporate treasury followers for the past 5-ish years, and he even had a business oriented bitcoin conference in early 2021. yet it has been taking some time for both corporate treasuries and/or even governmental treasuries to lean more and more towards getting bitcoin on their balance sheets, and surely many of the corporate treasuries that are likely to do better are those who come to bitcoin with their own strong financials rather than ONLY relying on other people's money to buy bitcoin for themselves (and then now finding themselves in the red).. and sure they might still be able to survive, yet there are needs to get through downward and/or sideways BTC price moves rather than being completely dependent upon bitcoin's price to pump for their own survival and prosperity.

Of course, since around October 10 or soon thereafter, there have been a lot of folks proclaiming that bitcoin had entered into a bear market and that the top was in, even though the top had just happened on October 6, so it seems that there have been a lot of premature calls, which seems to be your own specialty, The Sceptical Chymist.  I have a hard time imagining that you are not within the "we're in a bear market" camp.. which also likely contributes to your own ongoing failures/refusals to sufficiently/adequately prepare your own bitcoin holdings for UP...  

Yeah, in recent times, it has worked out all fine and dandy to be preparing for down, since some decent amount of down (36% so far) has been happening in recent times, yet guys preparing for down (including yourself) still need to act upon their downity doom and gloom preparations instead of presuming more downity is coming, when such additional downity might not happen.  I personally don't claim to know with any amount of meaningful confidence, even though I have been frequently suggesting that there are still not enough negative facts to support those seemingly premature proclamations that bitcoin has transitioned into a bear market (rather than the more likely scenario that we are merely in a decently large price correction and still within a bull market).