MSTR mark my words this will become the next FTX once traders and institutions realize collectively that there’s no point in buying the stock because value and price appreciation are non existent in relation to the price of BTC.
Things may be okay in the mid term but BTC trading towards 120k is only a bandaid to a long term problem. If Shareholders want to see a sustainable $600-$1000 share price Saylor needs to create a solid income stream that can cut those unsecured loans down 40% - 50% that’s where the real treasure lies. Through that this will become an actual company and not cause a meltdown black swan event during future bear markets, making a sizable contribution to a healthy crypto ecosystem.
MSTR I'm sure the firms handling the preferred bond sale today are doing what they can to ensure a market close strike price today of right at $340. The bonds will be priced on this number (average of last 5 trading days), which should allow the bond holders to get a good goose at market open tomorrow.
The bondholders will then flip them to unsuspecting retail investors on the NASDAQ exchange because they were locked out of the offering. Models show the bonds to be over priced at the suggested $100 strike, so it won't take long for the bonds to come under selling pressure from the retailers that get trapped as the bondholders jerk the rug.
MSTR going forward there’s no point in buying this at all. Micheal is basically taking shareholders money to buy BTC with none of the price appreciation due to dilution let the MM assume all the risk with no volume that’s what this stock deserves