MSTR ahh no 400? What happened. Looks like things have changed……too many other btc leveraged options out there. Not good!MICROSTRATEGY stock forum
MSTR ahh no 400? What happened. Looks like things have changed……too many other btc leveraged options out there. Not good!
MSTR Needs a Reality Check — No Single Firm Can Completely Control Bitcoin MarketMicroStrategy’s stock has become the most leveraged Bitcoin proxy in public markets — but price is ignoring one truth:
You can’t corner a decentralized asset.
📉 BTC struggling to hold momentum
💸 MSTR keeps diluting equity to buy more coins
📊 Fundamentals decoupled from intrinsic value
🔍 No firm — not even MSTR — can dictate the global demand curve of Bitcoin
Let’s be clear:
The current price of MSTR does not reflect the downside risk of Bitcoin stagnation, macro tightening, or regulatory crackdown.
Ray Dalio warns about long-term economic instability.
Meanwhile, retail is still buying the “Michael Saylor dip” like it’s 2020.
Eventually, the market will reprice.
Not based on narrative — but on real asset value, liquidity, and balance sheet truth.
The bigger the pump, the harder the unwind.
#MSTR #Bitcoin #CFA #ShortTheNarrative #RealityCheck #RiskManagement #AssetValuation #EquityDilution #BTCUSDT #MacroTrading
MSTR Looks like the ponzi party is over
MSTR Was reading through the STRD 8k again and noticed a highly unusual "ratcheting" liquidation preference mechanism in the offering. I don't think I've ever seen one quite like this except maybe in some hybrid convertible preferreds that use it as an anti-dilution type of poison pill. The ratchet clause in STRD is unusual because it blends elements from multiple types of securities, but puts them together in a way that’s rare, risky for the issuer, and mostly cosmetic for investors with little, if any, financial value.
It's sort of complicated to explain, but I'll try my best here... The clause states that if the company ever sells new STRD shares at a higher price, let’s say $150, then it promises to pay everyone holding STRD that same $150 per share if the the liquidation preference is triggered or if it buys the shares back later under the redemption clause. This sounds like a great deal, especially to regular investors who want something safer than stocks but more exciting than bonds. It’s like saying, “If someone paid more, you’ll get more too.” But that is a marketing gimmick, as I'll explain later.
But here’s the tricky part: that “ratchet” stays locked in even if the bond drops later. For example, if MSTR sells a batch of STRD at $150 when the market is hot, the liquidation value for all STRD shares moves up to $150, even for future unissued shares that may get sold far cheaper years later. It's crazy, but that is how it works.
Now imagine months later the price falls to $90. The company still has to act like it owes $150 per share to all STRD holders, even if it only ever got $85 or $90 average for what they sold. That extra $60 becomes a kind of “paper promise" liability that makes the company technically owe way more than it received for the bonds it sold. It's a poison pill that triggers to discourage dilution when the share price is high, which is when MSTR would normally want to be selling ATM.
Now, here is the kicker: STRD is not a redeemable or callable preferred from the holder’s side. It has no put option. The only way the liquidation preference can get triggered by the holder is in the case of bankruptcy or a merger. And guess what, STRD is junior to all other preferred shares and convertibles, so they are probably out of luck at that point anyway... Just like common shareholders.
So while it might sound like a win for investors, in reality it gives retail buyers a glittery talking point that sounds like “downside protection” but is meaningless in a real-world unwind.
But for MSTR, it creates a growing, permanent liability, especially if they keep issuing STRD into rising prices. It can quietly build a huge IOU for MSTR, one that they can't lower later, even if the stock tanks. It makes STRD look safer than it really is and helps attract small investors, but behind the scenes, it can put the company in a tight spot if too many of those high-price promises pile up on the balance sheet.
It's a financial unicorn... Pretty to look at, expensive to keep around, and potentially dangerous if it gets out of control.
MSTR thelogman and baloneyum are the only true analysts on here. HexaTrades is solid as well. Ignore everyone else
MSTR i want dividendsMSTR The Bitcoin NAV premium is continuing to slowly lose ground. A couple of things could be causing this..The new STRD shareholders are shorting the stock like I predicted, which hedges their bond position and locks in their 11.76% dividend should BTC tank. Low risk, high reward either way — a bond trader's dream.
Or the market is catching onto the scheme of using off-balance sheet hidden debt (preferreds) to make the BTC to debt ratio look much higher than it actually is.
MSTR The pyramid's days are numbered
MSTR This price action of this garbage scam, reminds me of 00's price action :D I hope it will repeat :D