G’day Folks,
Strategy just announced that the firm sold 32 Bitcoin for $2.5 Million, making for only the second time their Bitcoin balance has nominally declined (the other was a sale of 704 BTC in Dec-2022).
Saylor sold Bitcoin, and is sending a message in doing so.
In today’s note, I will discuss my views on this event, and what I believe it means for the company moving forwards.
I will also expand on a risk I highlighted in my last appearance on the What Bitcoin Did podcast, where I noted that there is in fact a Bitcoin price where the mathematical value of MSTR stock goes to $0.
Given the tremendous 843,706 hoard of Bitcoin Strategy owns, it is prudent to understand and appreciate the risks that come with it.
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