Is there anyone who thinks that this shit is going to end well?
>he isn't looping STRC ngmi
>>61924371Holy shit is finally the end of Bitcoin...
>>61924170Strategy's debt is structured quite defensively. Almost all social media commentary completely misses the point because those lazy asses don't even look into how the company an its products work.STRC in particular pays an adaptable, voluntary dividend. If this product is going to become more popular it's automatically going much lower, maybe more like 5%, but given its voluntary nature and Strategy's opportunism, even if it isn't received well they could also do something like reduce to 3% or 0% and buy back shares to keep the $100 peg instead of depending on the dividend.
>>61924170it's a scam and ponzi scheme don't buy it (I just bought more in my Roth today)
>>61924465Is a turbo ponzi.
>>61924170Saylor is going to have 1m+ BTC by the time all the banks start begging customers to custody with them. Saylor is going to be the richest guy in the world. He's never selling, only buying, forever
or i could just buy btc and btci
Do you hear that? That's the sound of future wholecoiners being vaporized
>>61924371unironically LUNA 2.0 but worse
>>61924465>buyback the sharesif you're suggesting they sell btc to do this you know this is how a deathspiral happens
>>61924170good thread, what's the options play here
>>61924170The big takeaway should be about how long banks have been fucking people with low interest rates on deposits
>>61926359Anybody with two brain cells can finda a HYSA or buy a bond ETF
>>61924170Strategy (formerly MicroStrategy) keeps the STRC (Stretch) Variable Rate Series A Perpetual Preferred Stock distribution around 10% (ranging between 9% and 11.5% as of early 2026) primarily by utilizing a variable, monthly adjusted dividend rate designed to keep the security trading close to its $100 par value. The company employs several active management mechanisms to maintain this stability and yield: Monthly Dividend Adjustment: The Board of Directors adjusts the dividend rate monthly based on the five-day volume-weighted average price (VWAP) of the stock. If the stock price dips below $100 (e.g., during high volatility in Bitcoin), the company increases the dividend to make it more attractive to buyers and pull the price back to par.At-the-Market (ATM) Offerings: Strategy uses an ATM program to issue new STRC shares, generally targeting a narrow band of $99–$101. This allows them to manage liquidity and support the price, with a $4.2 billion ATM program in place as of late 2025.Bitcoin-Backed Overcollateralization: Each share of STRC is backed by Bitcoin at a ratio of roughly 5-to-1 (roughly $5 of BTC for every $1 of annual dividend). This immense collateral provides a cushion that reassures investors of the safety of the dividend, allowing for a lower required yield to maintain investor confidence.Redemption/Call Rights: Strategy has the option to redeem (call) STRC shares at a set price (e.g., $101 per share plus accrued dividends) if the price rises significantly above par, preventing it from trading too high, or as part of active portfolio management.Cash Buffer: To ensure consistent, high-yield payouts without needing to sell their Bitcoin treasury during down markets, Strategy has established a cash buffer, such as the $1.44 billion reserve announced in late 2025, specifically to fund preferred dividends
This shit has never worked, ever. It will crash and burn.
>>61926299You might be a nice guy, but you're precisely the typical lazy ass commentator I was referring to.In addition to>selling bitcointhey>already have a cash reserve covering 2y worth of obligations>can top it up by diluting common stock>can top it up by selling more STR products>can top it up by putting out more convertible notes, etcSo if you had ever looked in what they do you'd they can stomach another 1-2 years of bear market without doing anything at all, and then they have 3 fallbacks to generate more cash, and finally they can also sell bitcoin, which due to the cylical nature of this asset may not be a terrible idea either. Sometimes you sell, sometimes you buy, MSTR tries never to sell, but they are extremely opportunistic and can sell at an opportune time if is necessary to do this.
>>61928309The fear around them selling as something catastrophic is exaggerated. If you boast of of being over collateralized, selling the collateral has to be an option on the table and as you pointed out they have several options before they'd have to sell to cover dividends.
>>61928376Yes, and even if they do sell, they can do a single transaction to cover a year or so of obligations. This might move the market -2% or so in the process, then -9% when they announce what they did and the inevitable FUD around MSTR selling takes hold, but the market will then have another year or so to calm down and forget about it until the next sale becomes necessary.The MtGox and Germany government BTC dumps didn't make a sustained dent either, and those were higher amounts and weeks of FUD.
>>61928309>already have a cash reserve covering 2y worth of obligationsthats not enough to buy $8bil strc back>can top it up by diluting common stockscenario strc unpegged i dont forsee mstr being above NAV>can top it up by selling more STR productsobviously wouldnt work if strc is spirallingim not saying its gonna happen soon im just saying a strc deathspiral can happen, his only realistic option to save it is selling btc but we both know thats gigabearish too
>>61928472You're already backpedaling to saying it "can" happen.You didn't address the idea of using a cash reserve that can be built up in good times. It took them a few weeks of mainly diluting the common stock (without much of a price impact) to build their current 2b+ reserve.Even if they were to top it up using bitcoin sales they could likely also keep the duration of selling and price impact minimal.>buy $8bil strc backIt's below $4b now. If they go higher, they collect fresh funds in the process, and the product becomes more established and the dividend probably goes down.OP complained that they raised it to 11.5%, but the stock was already near $100, so they probably just raised it opportunistically to collect more money this week because they want to use the current low prices to buy more. They could likely also have reduced it to 9 or 10% without impacting the price much in the other direction.In any case, any payments are voluntary and can be suspended/postponed or stopped entirely.Yes, doing so would hurt the product, but the doomsday nonsense of an imagined necessity to panic-sell into a death spiral simply fails to acknowledge all options.You can tell Strategy spends all day every day designing a bitcoin treasury and bear commenters don't.The one thing that's true is that bitcoin halfway needs continue succeeding as a viable asset.Whether that is in typical 4y cycle or supercycle style or something smoother.If you think it can go to 0, every treasury company fails, but assuming that bitcoin is going to do at least halfway OK is very premise of buying any treasuries at all.
>>61924170no thanks
>>61928656bitcoin doesnt need to go anywhere near 0 for mstr to be fucked, we could crab mostly between $50k and $80k for the next 4 years and thats not even bearish
>>61926212It's unfathomable for low-IQ no-coiners.The STRC bitcoin printer is hoovering up 100's of bitcoin per hour of trading in a bear market. With the MSTR ATM going brrrrr alongside, Strategy will have over a million btc before the end of this year, possibly by Q3.Feeling comfy rn in my ponzi onesie.
>>61929542You just made that up like everyone who comments on MSTR because you're lazy. Obviously they'll be fine crabbing 4 years in that range.The Germany + MtGox dump of 2024 showed that those entities were easily able to dump 110k coins on the market, much of it with ridiculous unplanned market selling, without making a dent for more than a month.Strategy can likely easily pull 5-10b from bitcoin sales plus shares dilution in a few weeks without causing a lasting crash and it will be enough for many more years in addition to the 2 they alread have.
>>61926596hSYA don’t even beat real inflation you goyboy
>>61930347> easily able to dump 110k coins on the market without making a dentand pray tell me, how much did saylor buy in 2024 -now you see the problem?
>>61930696Just stop making up random nonsense.But the fact that nearly 100% of anti-MSTR posts are nonsense like yours makes me quite bullish.On the way up we'll be able to tell you opposite nonsense and you have no way of validating it and have to accept it. MSTR to acquire Nvidia. It's true because we say so you have to buy the top.
>>61924170Yes.Me.This is literally free money as long as you sell before Bitcoin goes up by a lot again.Saylor can see this going as long as he wants. Keeping the price around 95-1009-11% return on capitalIn order for it to cause you trouble, Bitcoin price would have to fall deeper than anyone would expect, which it won't because of that.
You know how Anons used to go stable coins? This is better. Much better.
>>61930877>>61930905There's something for everyone here, especially its function as tradfi gateway is underappreciated.When MSTR was still into selling corporate bonds, they got lots of large banks and insurances to buy them. Because the bond market is huge, and bond asset managers found it interesting to buy a bond that moves like bitcoin.STRC can pull a lot of funds from tradfi money markets as well. Steady, tax-free returns every month, growing history of confirmed ~$100 peg.Then there's the stock of course.And many cycle believers who still move a few billions might sit out the bear market in STRC instead of USDT to earn yield.
>>61930943> who still move a few billions might sit it out the bear market in STRC instead of USDTThey do. And not only the big ones.
