#strc #mstr


🔪 Michael Saylor now has three options – Sina

1. Sacrifice BTC: sell Bitcoin, raise cash and/or buy back STRC and MSTR shares.

2. Sacrifice MSTR: dilute common shareholders, pay dividends on STRC and/or buy BTC to maintain the appearance of "business as usual."

3. Sacrifice STRC: leave everything as is or suspend dividend payments

The logical option is to sell BTC, since mNAV < 1. But this will trigger a decline in BTC + it's an admission of defeat and a loss of the company's reason for existence.

The option that will fit the narrative and distract retail is to buy more BTC and dilute common shareholders. This is a bad decision for shareholders, but good news for BTC holders.
BTC1.49%
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