Four straight weeks of selling.
1,690 BTC sold at $64,262. Cost basis $75,385. Loss of $11,123 per coin.
The proceeds: $108.6 million. The STRC repurchase: $108.6 million. Exact match. Zero discretion in that transaction.
Strategy also sold 6.59 million MSTR shares for $653 million in the same week. Stock slipped Monday.
Saylor no longer calls this a Bitcoin treasury company. The new name is Digital Credit Framework. That rebrand happened quietly and most people missed it.
A Bitcoin treasury company accumulates Bitcoin. A Digital Credit Framework services preferred stock obligations using Bitcoin as collateral and sells it when the structure requires it.
Wall Street has Canaccord at $224 and Raymond James at $800 on MSTR. They are buying the framework, not the Bitcoin thesis.
$BTC
Is the world's largest corporate Bitcoin holder now primarily a preferred stock management vehicle that happens to hold Bitcoin, or is September 8 when the original thesis comes back?
#BTC
1,690 BTC sold at $64,262. Cost basis $75,385. Loss of $11,123 per coin.
The proceeds: $108.6 million. The STRC repurchase: $108.6 million. Exact match. Zero discretion in that transaction.
Strategy also sold 6.59 million MSTR shares for $653 million in the same week. Stock slipped Monday.
Saylor no longer calls this a Bitcoin treasury company. The new name is Digital Credit Framework. That rebrand happened quietly and most people missed it.
A Bitcoin treasury company accumulates Bitcoin. A Digital Credit Framework services preferred stock obligations using Bitcoin as collateral and sells it when the structure requires it.
Wall Street has Canaccord at $224 and Raymond James at $800 on MSTR. They are buying the framework, not the Bitcoin thesis.
$BTC
Is the world's largest corporate Bitcoin holder now primarily a preferred stock management vehicle that happens to hold Bitcoin, or is September 8 when the original thesis comes back?
#BTC