Saylor is showing off his report card again—this time, a four-month performance update for the “Digital Credit Framework.”
Since its launch on June 29: MSTR +77.4%, STRC +38.6%, STRD +35.0%, STRK +32.6%, STRF +22.9%. He credits “smart buybacks.”
I’ll ask just one thing: who picked the starting point? The company itself. Using the framework’s launch date as the benchmark is like setting your own exam and grading it yourself.
And the buybacks: where does the money for up to $2 billion in buybacks come from? From the same capital structure, shuffling money around by issuing shares and preferred stock. If the share price rises, buybacks get the credit; if it falls, they invoke long-termism. Either way, they win.
MSTR is still essentially a leveraged play on BTC. Before claiming the framework is amazing because it rose 77% in four months, compare it with BTC over the same period. Those preferred shares are up 30–40%, but holders are getting securities with ever-lower yields, while latecomers are left buying in at higher prices.
They’re nearing 848,000 BTC, and an update is due on October 29. Then, check whether BTC per share has actually gone up or down—don’t just look at the bar charts he posts.
#MSTR #BTC
Since its launch on June 29: MSTR +77.4%, STRC +38.6%, STRD +35.0%, STRK +32.6%, STRF +22.9%. He credits “smart buybacks.”
I’ll ask just one thing: who picked the starting point? The company itself. Using the framework’s launch date as the benchmark is like setting your own exam and grading it yourself.
And the buybacks: where does the money for up to $2 billion in buybacks come from? From the same capital structure, shuffling money around by issuing shares and preferred stock. If the share price rises, buybacks get the credit; if it falls, they invoke long-termism. Either way, they win.
MSTR is still essentially a leveraged play on BTC. Before claiming the framework is amazing because it rose 77% in four months, compare it with BTC over the same period. Those preferred shares are up 30–40%, but holders are getting securities with ever-lower yields, while latecomers are left buying in at higher prices.
They’re nearing 848,000 BTC, and an update is due on October 29. Then, check whether BTC per share has actually gone up or down—don’t just look at the bar charts he posts.
#MSTR #BTC