Everyone is expecting Saylor to announce a buyback. Meanwhile he just said that is not even the priority right now, Strategy is sitting on 4.8 billion in cash reserve instead.
That tells you something. When a company with that much $BTC exposure chooses to hold cash over buying its own stock back, that is not weakness, that is patience. He is not trying to prop up a share price this week. He is positioning for something bigger down the line.
I am not reading this as bearish at all. Strong hands holding dry powder while everyone panics about a buyback that never came, that is exactly the setup that plays out quiet for a while and then does not.
$BTC
That tells you something. When a company with that much $BTC exposure chooses to hold cash over buying its own stock back, that is not weakness, that is patience. He is not trying to prop up a share price this week. He is positioning for something bigger down the line.
I am not reading this as bearish at all. Strong hands holding dry powder while everyone panics about a buyback that never came, that is exactly the setup that plays out quiet for a while and then does not.
$BTC