Bitcoin has fallen to around $74,900. Saylor’s 849,327 coins have an average cost of $75,451, leaving him with an unrealized loss of about $1.2 billion—the ugliest figure since he began building his position.
On Monday, someone asked him whether he would buy back shares. He said it wasn’t a priority right now; first, he would use $4.8 billion in cash to protect preferred-stock dividends. Then came a more thought-provoking statement: We must be able both to buy Bitcoin and to sell Bitcoin.
In the holdings disclosure from early November, he spent $208 million in one week buying back his own preferred shares, while spending just $65.5 million on Bitcoin. The order of buying and selling has already been reversed.
The timeline he gave shareholders is four to seven years.
$BTC #Bitcoin
On Monday, someone asked him whether he would buy back shares. He said it wasn’t a priority right now; first, he would use $4.8 billion in cash to protect preferred-stock dividends. Then came a more thought-provoking statement: We must be able both to buy Bitcoin and to sell Bitcoin.
In the holdings disclosure from early November, he spent $208 million in one week buying back his own preferred shares, while spending just $65.5 million on Bitcoin. The order of buying and selling has already been reversed.
The timeline he gave shareholders is four to seven years.
$BTC #Bitcoin
