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#microstrategy

4 posts4 participants0 posts today
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⚯ Michel de Cryptadamus ⚯

it would be hard to think of a more obvious example of #malinvestment than a bunch of companies rushing to turn themselves into vehicles to use borrowed money to buy bitcoin a la #MicroStrategy.

just in the past few weeks we've seen #HowardLutnick's sons launch one of these things with #Tether, MicroStrategy continuing to borrow and buy billions, #Metaplanet and Semler Scientific getting in on the action in a smaller way, this new David Bailey grift, and just yesterday the CEO of #Strive launched a plan to raid profitable companies with free cash and use their cash to buy bitcoin: x.com/thomas_fahrer/status/192

(we've even seen a logistics company announcing plans to borrow money to buy #TRUMP memecoins!)
theinformation.com/articles/da

screenshot of headline
#DavidBailey#michaelSaylor#stockmarket
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⚯ Michel de Cryptadamus ⚯

they're doing the #MicroStrategy thing for #TrumpCoin now

(and apparently to bribe trump to lift some #tariffs, or something... details unclear)

> "An international trucking logistics firm is buying as much as $20 million worth of President Donald Trump’s crypto coins to influence the administration’s trade policy"

huffpost.com/entry/trump-coins

Freight Technologies Inc. CEO Javier Selgas said in a Wednesday news release that buying Trump coin would be “an effective way to advocate for fair, balanced and free trade between Mexico and the U.S.” The release was attached to a filing that same day with the Securities and Exchange Commission explaining why Freight Technologies was issuing bonds. “The company will use the net proceeds from the offering to purchase TRUMP coins,” the company told the SEC.
#TRUMP#uspol#uspolitics
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⚯ Michel de Cryptadamus ⚯

Excellent explanation of Howard Lutnick's kids' new "bitcoin acquisition SPAC" partnership with #Softbank and #Tether headed up by #JackMallers AKA "the crypto bro who cried on stage about El Salvador's bright new bitcoin future."

The venture is basically just another version of the #Microstrategy pyramid scheme, brought to you by the children of Trump's cabinet members.
x.com/OccamiCrypto/status/1915

p.s. the CFO of this new venture was formerly head of UBS #Russia.

@OccamiCrypto The Cantor/Tether/SoftBank BTC SPAC (Twenty One) announced today is an elegant way for Tether and BitFinex to "wash" a couple of billion of profits. Tether and Bitfinex are contributing 25,713 BC at an avg price of $84,846 ($2.2B - $1.6B from Tether and $600M from BitFinex) to the SPAC. When the SPAC merger is closed, Tether/BitFinex will receive 71% of the shares in the company that will be a pure BC play, but for Tether/ BitFinex, they'll own liquid US listed stock which is more "legit" and that they can exit over time.
#uspol#HowardLutnick#SPAC
Continued thread
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⚯ Michel de Cryptadamus ⚯

2/ In other "crypto scammers visiting El Salvador to immanentize bitcoin fascism" news, #MicroStrategy CEO Michael Saylor, the man who owns more bitcoin than anyone (much of it bought with borrowed money in what will probably turn out to be history's largest pyramid scheme) flew to San Salvador to visit Bukele on February 13th.

cryptobriefing.com/bitcoin-mee

Crypto Briefing · El Salvador's president Nayib Bukele meets with Michael Saylor to discuss BitcoinNayib Bukele and Michael Saylor discuss Bitcoin in El Salvador amid regulatory changes affecting its legal tender status.
#ElSalvador#uspol#broligarchy
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⚯ Michel de Cryptadamus ⚯

Good overview of the insanity that is #MichaelSaylor's "buy billions of dollars worth of bitcoin with borrowed money" approach to financial engineering.

> "If #MicroStrategy's strategy is so brilliant, why isn't every company doing it? Should Apple stop making iPhones and just convert its cash to Bitcoin? Should Coca-Cola abandon soda production and become a Bitcoin holding company?"

basedtoschi.substack.com/p/ins

Based Opinions · Inside Microstrategy's Bitcoin PyramidBy Based Toschi
#finreg#MSTR#STRK
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⚯ Michel de Cryptadamus ⚯

#GameStop will be “investing” some of the $4.6 billion cash pile it accumulated by dumping #GME shares on retail apes (who are tbh significantly dumber than crypto bros, which is impressive) into bitcoin.

This follows #MichaelSaylor of #MicroStrategy's entreaties to the company a few weeks ago, because pretty clearly Saylor’s #MSTR / #STRK / #STRF ponzi scheme is running out of steam and he desperately needs other people’s money to prop up the scam.

coindesk.com/markets/2025/03/2

Picture of Michael Saylor and Ryan Cohen (Gamestop CEO) tweeted by Cohen on Feb 8th.
#finance#stockmarket#economy
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⚯ Michel de Cryptadamus ⚯

FT Alphaville weighs in on #MicroStrategy's bizarre new "strife" (#STRF) bitcoin accumulation strategy.

> "#MichaelSaylor has pitched it as a way to tap into the vast pool of fixed-income investors who generally prefer stability and predictable returns. Yet Strife offers neither. It exposes investors to bitcoin’s downside (since Strategy’s creditworthiness hinges on its crypto holdings) without giving them any upside if the cryptocurrency soars. The dividend is fixed, so if bitcoin 'moons', Strife holders are left watching from the sidelines. It’s like being invited to an all-you-can-eat buffet but only allowed to smell the food."

> "Buried in the fine print of the prospectus is a crucial detail: the board can suspend dividends altogether. It’s essentially a 'trust me' deal."

ft.com/content/20984de7-4a63-4

screenshot of article
#MSTR#crypto#Bitcoin
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⚯ Michel de Cryptadamus ⚯

One week ago #MicroStrategy (#MSTR, the world's largest holder of bitcoin) announced they were raising $21 billion (1/3rd of the entire company) via a new "perpetual strike preferred stock" called #STRK to raise cash to pump the price of bitcoin.

Today now suddenly they are announcing they will raise money via yet *another* financial instrument "strife" (#STRF) to pump the price of bitcoin.

absolutely wild. bitcoin cannot be "digital gold" if its price depends on the solvency of a single company (which it now does)

* STRK announcement: strategy.com/press/strategy-an
* STRF announcement: strategy.com/press/strategy-an

STRK announcement
STRF announcement
#MichaelSaylor#fraud#corruption
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⚯ Michel de Cryptadamus ⚯

#MicroStrategy's “bitcoin strategy” is going fully pyramidal. The company has spent $33 billion on bitcoins now “worth” roughly $41 billion over the past 5 years (at least $7-8 billion of those bought with borrowed money). Now #MichaelSaylor just announced a $21 billion sale of their special new #STRK perpetual strike “stock” (different from the regular stock, which is #MSTR) to buy even more bitcoin. Note that the market cap of MicroStrategy is ~$60 billion, so that's a sale of 1/3rd (sort of - STRK isn't exactly a share of stock).

Paraphrasing Dan Davies
here, something along the lines of “the nature of fraud is to expand until stopped by an external force”…

Strategy Announces $21 Billion STRK At-The-Market Program TYSONS CORNER, Va., March 10, 2025—StrategyTM (Nasdaq: MSTR; STRK) today announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 8.00% series A perpetual strike preferred stock, $0.001 par value per share (the “perpetual strike preferred stock”), having an aggregate offering price of up to $21.0 billion (the “ATM Program”). Shares of the perpetual strike preferred stock are convertible by the holders into shares of Strategy’s class A common stock. Strategy expects to make sales of perpetual strike preferred stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the perpetual strike preferred stock at the time of sale. Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin and for working capital.
#fraud#stockmarket#economics
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⚯ Michel de Cryptadamus ⚯

the meeting logs of #DavidSacks and #a16z's "Crypto Task Force" that is I guess now running american financial regulation via the #SEC contain many incredible things, but only a single meeting with anyone trying to advocate for the public interest (#BetterMarkets, who deserve a lot of credit for trying).

* SEC page: sec.gov/about/crypto-task-forc
* archived meeting notes: legacy.www.documentcloud.org/a

screenshot of link
#MSTR#MicroStrategy#zerohash
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⚯ Michel de Cryptadamus ⚯

#MicroStrategy just bought another $2 billion worth of bitcoin with convertible debt (that they will have to pay back despite #MichaelSaylor's blatant lies to the contrary in our new post-regulation era). The price of bitcoin still managed to go down 2% as soon as he announced the purchase.
coindesk.com/markets/2025/02/2

screenshot of headline
bitcoin price chart showing drop
& ] - R ) @ Hi, derivatives guy here. Convertible bonds are debt securitities that have to be paid off in cash if the stock price is below the conversion price, your investors will want good old fashioned fiat currency if its worth more than your stock. Hope this helps! G AT (YA Michael Saylor says, "It's not debt, it's convertible debt. #Bitcoin could go from $100K to $1K, the debt is not going to get called, there is no recourse.” MSTR Is Safe: Debt Can Be Paid Off with Stock, Even If Bitcoin Drops to a Penny! BitcoiMemesIRL = people (LTI Y’ < & LR (€ ES SRR ) E P BT Y el 1 < ‘ [y = “ EE
meme showing bitcoin price is explained by microstrategy
#MSTR#Bitcoin#corruption
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