# Пов'язані статті щодо Michael Saylor

Центр новин HTX надає останні статті та поглиблений аналіз на тему "Michael Saylor", що охоплює ринкові тренди, оновлення проєктів, технологічні розробки та регуляторну політику в криптоіндустрії.

As Part of Strategy, U.S. Dollar Reserve Increased by $525 Million, Resulting in Dividend Coverage Ratio Rising to 2.1 Years

MicroStrategy's US dollar reserve increased by $525 million, boosting its dividend and interest coverage ratio to 2.1 years. The company's holdings of 843,775 BTC, acquired for an average of $75,476 per coin, remained unchanged during the reported week, with the reserve's market value at $54.36 billion representing an unrealized loss. The firm also repurchased $25 million worth of its Series C preferred stock. To build the reserve, MicroStrategy sold 5.43 million shares of its common stock, generating $544.5 million in net proceeds. The company highlighted that the bolstered reserve extends the period for dividend payments without needing to sell Bitcoin, and the unchanged BTC position signals a commitment to its strategy despite price volatility.

cryptonews.ruВчора 13:28

As Part of Strategy, U.S. Dollar Reserve Increased by $525 Million, Resulting in Dividend Coverage Ratio Rising to 2.1 Years

cryptonews.ruВчора 13:28

Additional $450 million fails to lift the price, what STRC truly lacks is never money

Despite raising an additional $450 million, shares of Strategy's (STRC) preferred stock fell, highlighting a deep-seated crisis of investor confidence rather than a lack of capital. The company, the world's largest corporate holder of Bitcoin, now boasts $3 billion in cash reserves, theoretically sufficient to cover dividends for 20 months. However, STRC's price remains at a 13% discount to its $100 face value. The core issue is a severe erosion of trust in founder Michael Saylor. His repeated reversals on key commitments—such as promises not to sell Bitcoin or dilute shares below a certain threshold, which were later broken—have damaged credibility. Market skepticism persists despite the high dividend yield, as STRC lacks the guarantees of a deposit account or money market fund. Ultimately, no amount of cash can restore the confidence repeatedly compromised by management's inconsistent actions.

marsbit07/15 01:58

Additional $450 million fails to lift the price, what STRC truly lacks is never money

marsbit07/15 01:58

Despite $450 Million Increase in Cash, STRC Price Still Falls; It's Never Been About Money

Despite raising an additional $450 million, boosting its total cash reserves to $3 billion, the share price of STRC, the preferred stock of Bitcoin-heavy firm Strategy, continued to fall. The core issue, according to the article, is not a lack of funds but a severe erosion of investor confidence in CEO Michael Saylor and the company's leadership. Strategy designed STRC to trade stably near its $100 face value, but its price has been volatile and is currently trading at a 13% discount. Even with cash reserves theoretically sufficient to cover 20 months of dividends at a current yield of 12%, the market remains unmoved. The article attributes this distrust to Saylor's history of repeatedly changing promises and guidance. Key examples include altering share dilution rules shortly after setting them, selling Bitcoin despite years of public vows never to do so, and drastically slashing annual earnings forecasts. These actions have made investors skeptical of management's commitments. While Saylor has compared STRC to a high-yield savings account, its price plummeted to a low of $71.25 in June, demonstrating it carries significant risk unlike insured deposits. The article concludes that no amount of cash can restore the market trust that has been consistently undermined.

Foresight News07/14 12:03

Despite $450 Million Increase in Cash, STRC Price Still Falls; It's Never Been About Money

Foresight News07/14 12:03

Blood Loss of $55 Million Selling 3,588 BTC, Strategy Becomes a Literal Scumbag

On July 6th, Strategy (formerly MicroStrategy) disclosed in an SEC filing that it sold 3,588 Bitcoin (BTC) between June 29th and July 5th for approximately $216 million, at an average price of ~$60,200. This marked the company's largest net sale since initiating its Bitcoin strategy in 2020 and its first institutionalized reduction of its core holding. The sale resulted in a realized loss of about $54.8 million, as the selling price was below its average cost basis of ~$75,476 per BTC. The proceeds were used to pay preferred stock dividends and replenish USD reserves. This move follows a new "Digital Credit Capital Framework" approved on June 29th, authorizing the sale of up to $1.25 billion in Bitcoin. The sale consumes roughly 17% of this authorized amount in its first week. Strategy's foundational narrative, built by founder Michael Saylor, was a commitment to "never sell" Bitcoin. The recent institutionalized selling framework and these substantial sales represent a significant shift from that original promise. While the amount sold is only 0.4% of Strategy's total holdings of 843,775 BTC, the action challenges the premium at which its stock (MSTR) trades relative to its Bitcoin holdings. Investors had priced in the "never sell" narrative. The company now faces a contradiction: it sells Bitcoin at a loss to pay dividends on the preferred stock it issued to fund Bitcoin purchases. Saylor has framed selling as a tool for future strategic purchases, but each sale erodes the credibility of the original commitment, potentially threatening the premium valuation of MSTR shares.

Foresight News07/07 06:05

Blood Loss of $55 Million Selling 3,588 BTC, Strategy Becomes a Literal Scumbag

Foresight News07/07 06:05

Selling at a Loss of $55 Million: MicroStrategy's Faith Reaches Its Interest Payment Date

On July 6th, Michael Saylor's MicroStrategy sold 3,588 BTC for approximately $216 million to fund dividends for its digital credit securities, incurring a realized loss of around $55.45 million. This move, from a company that long championed a "never sell" Bitcoin strategy, marks a significant shift. The sale followed a board-approved plan authorizing up to $1.25 billion in BTC sales for corporate purposes like dividends and buybacks. MicroStrategy's core growth model relied on issuing premium-priced shares to buy more Bitcoin. However, with its share price trading near the critical 1.22x mNAV (market value to net asset value) threshold, issuing new equity became dilutive. Simultaneously, its financing channels have constricted, while its annual dividend and interest obligations (roughly $1.76 billion) remain a rigid expense. Consequently, selling Bitcoin became the rational choice under its own framework. MicroStrategy now holds ~843,775 BTC and $2.55 billion in cash reserves. If annual obligations were fully covered by BTC sales, it could create consistent selling pressure of roughly 29,000 BTC per year. This transforms the market's largest consistent buyer into a scheduled seller, potentially pressuring Bitcoin prices and challenging the valuation models of similar digital asset treasury companies. For MicroStrategy, the path forward hinges on Bitcoin's price recovery, which would help restore the premium on its securities and restart its acquisition flywheel. Its fate is now cyclically tied to the asset it holds: a strong Bitcoin price validates its model, while a weak price strains the very model that exerts selling pressure.

marsbit07/06 13:52

Selling at a Loss of $55 Million: MicroStrategy's Faith Reaches Its Interest Payment Date

marsbit07/06 13:52

STRC Must Re-Anchor for a BTC Bull Market to Happen

Title: STRC's Depegging Threatens MicroStrategy's Bitcoin-Buying Machine, and Thus the BTC Bull Run Summary: The sustained depegging of MicroStrategy's priority share STRC (trading ~25% below its $100 target) is severely disrupting the company's core business model and poses a major risk to Bitcoin (BTC) price support. STRC was MicroStrategy's most efficient and low-cost funding tool, designed to allow continuous capital raises near its $100 par value to fuel relentless BTC accumulation. Its depegging has effectively blocked this primary funding channel. The situation creates a severe cash flow crisis. STRC and other priority shares now obligate MicroStrategy to pay approximately $1.7 billion in annual cash dividends, while the company's cash reserves are only about $1.4 billion — insufficient to cover one year of payments. To raise cash, MicroStrategy is increasingly resorting to issuing common stock (MSTR) through ATM offerings. However, recent raises show most proceeds (around 90% in one week) are now used to bolster cash reserves rather than buy Bitcoin. This dilutes the key metric of Bitcoin per MSTR share, eroding the fundamental value proposition for equity investors. The company faces grim alternatives: issuing high-cost debt or selling its massive Bitcoin holdings. The latter, though hinted at, would likely trigger significant negative market reactions. Conclusion: As BTC's largest corporate holder and a major marginal buyer, MicroStrategy's funding woes mean reduced, and potentially reversing, institutional buy-side pressure. The company has shifted from being a guaranteed source of BTC demand to a significant overhang on the market. The article argues that without STRC re-anchoring to restore its funding engine, a sustained BTC bull market is in jeopardy.

marsbit06/26 06:22

STRC Must Re-Anchor for a BTC Bull Market to Happen

marsbit06/26 06:22

Will the STRC Issue Price Determined by ChatGPT Really Fall into a Death Spiral?

"Strategy's" (STRC) preferred share, a financial instrument designed by CEO Michael Saylor in consultation with AI to trade steadily at $100, faces mounting pressure. Since its July 2025 launch alongside a ~40% Bitcoin price drop, STRC has traded at a steep discount, hitting a low of $82.53. This discount pushes its effective dividend yield above 12.9%. The core debate revolves around whether STRC's structure is sustainable or a "centralized Ponzi scheme," as economist Peter Schiff claims. The mechanism relies on issuing new shares ("at-the-market" offerings) to fund Bitcoin purchases and dividend payments. However, the deep discount has paused these ATM offerings, slowing Bitcoin accumulation and forcing a minor sale of 32 BTC to cover obligations. Proponents, like The Smarter Web Company's Jesse Myers, argue the sell-off is a leveraged unwinding, not a fundamental failure. They note Strategy has ample resources to cover dividends for years if Bitcoin appreciates modestly. The deep discount also makes STRC attractive for yield-seeking buyers, as dividends are calculated on the $100 face value. The key test is whether Strategy can maintain dividends without sustained Bitcoin sales. A critical watchpoint is June 30th, when STRC switches to semi-monthly dividends. An automatic rule will likely raise the dividend rate further because the price remains below $95$, potentially creating a "death spiral": lower prices trigger higher yields, increasing the cash burden and forcing more dilution or asset sales. The question of whether this AI-designed "flywheel" is a stable instrument or a flawed accelerator will be answered by its price action and Strategy's funding choices in the coming months.

链捕手06/23 09:32

Will the STRC Issue Price Determined by ChatGPT Really Fall into a Death Spiral?

链捕手06/23 09:32

STRC Hits Historic Low, Saylor's Perpetual Motion Machine Grinds to a Halt

STRC, the perpetual preferred stock issued by MicroStrategy to fund its Bitcoin purchases, hit a historic low of $85.32, a 17% discount to its $100 par value. Designed as a "digital credit engine" to trade stably near par and enable continuous share issuance for buying Bitcoin, its plunge signals a breakdown in this model. Three key factors drove the decline: 1. Bitcoin's price fell over 50% from its peak, trading around $63,000 amid hawkish Fed signals. 2. MicroStrategy's cash reserves were depleted after a $1.5 billion convertible note repayment, slashing the dividend coverage for STRC's 11.5% yield to ~7 months. The company then sold 32 BTC to cover dividends—Michael Saylor's first Bitcoin sale since 2022—damaging the "never sell" narrative. 3. A competing Bitcoin-backed preferred stock, Strive's SATA, offers a higher yield (~13%) and daily dividends, drawing investors away from STRC. The drop triggers a negative cycle: STRC below par halts ATM share issuances, cutting off a key funding source for Bitcoin buys and potentially forcing more BTC sales for dividends, further eroding confidence. While Saylor argues the model is mathematically sound—needing only 2.3% annual Bitcoin growth to sustain itself—the market is testing the resilience of the leveraged Bitcoin treasury strategy in a bear market. The STRC price now reflects rising skepticism about this financial machinery's durability during downturns.

marsbit06/19 05:32

STRC Hits Historic Low, Saylor's Perpetual Motion Machine Grinds to a Halt

marsbit06/19 05:32

Spicy Commentary | Michael Saylor's 'Player Talk'; 60-Year-Old Aunt Liquidated After 'Scamming a Young Man'

**"Spicy Commentary": Three Tales of Crypto's Wild Week** This week's "Spicy Commentary" column highlights three dramatic stories from the cryptocurrency world. First, **MicroStrategy's Michael Saylor** addressed the controversy over his company potentially selling Bitcoin. At the BTC Prague event, he clarified, "I never said the company can't sell Bitcoin. I told *you* never to sell *your* Bitcoin." This "do as I say, not as I do" stance was criticized by netizens as peak linguistic gymnastics, noting a history of him previously stating the company would "never" sell. Second, a **bizarre fraud case** emerged from Beijing. A 60-year-old woman, obsessed with getting rich from crypto but unwilling to risk her own savings, posed online as the 20-something "god-daughter" of a high-ranking official. She catfished a young man, convincing him to give her over 200,000 yuan for fabricated emergencies. She then invested all the stolen money into cryptocurrency with 10x leverage, only to lose everything in a market crash. The woman was sentenced to four years in prison for fraud. Finally, a **sobering trader's tale** surfaced on Reddit. A user posted "Tale of a crypto trader," confessing their net worth had plummeted from a peak of $45 million to roughly $17,200, primarily due to holding meme coins too long. The post, described as a crypto "book of confessions," sparked reactions ranging from sympathy to critique about greed, poor risk management, and the perils of treating meme coins as long-term investments instead of taking profits. The column concludes that this week featured masterful rhetoric, elaborate scams, and extreme financial volatility, stitching together another chapter in crypto's unpredictable theater.

Foresight News06/13 03:01

Spicy Commentary | Michael Saylor's 'Player Talk'; 60-Year-Old Aunt Liquidated After 'Scamming a Young Man'

Foresight News06/13 03:01

Saylor's Purchase of 1550 Bitcoin Is a Bad Trade

**Title: Saylor's Purchase of 1,550 Bitcoins Was a Bad Trade** The article critically analyzes Strategy's recent move of selling 32 bitcoins followed by a much larger purchase of 1,550 bitcoins. While appearing bullish, the author argues this trade is detrimental to MSTR shareholders. The core argument revolves around the concept of "breakeven modified Net Asset Value (mNAV)," a key metric for Strategy. To increase Bitcoin per share (BPS) for MSTR holders, Strategy must issue new shares at a premium high enough that the funds raised can buy more bitcoin than the bitcoin backing each existing share. Currently, this breakeven mNAV is estimated at 1.30. The recent trade failed on two counts: 1. The shares for the $181 million raise were issued at an mNAV *below* the 1.30 breakeven point. Selling "cheap" shares to buy bitcoin actually *reduces* BPS. 2. Only $101.3 million of the raised funds were used to buy bitcoin; the rest went to boost the company's dollar reserves. The breakeven mNAV calculation assumes *100%* of proceeds are used for bitcoin purchases. Diverting funds, even if mNAV were high, dilutes BPS. The result is an estimated 0.19% decrease in Bitcoin per share for MSTR holders. In exchange, Strategy merely extended its operational runway for its dollar reserves from ~6.3 months to 7 months. The author interprets this as Strategy prioritizing the survival and development of its STRC business over its stated core goal of increasing MSTR's BPS. This constitutes a gamble: if sacrificing MSTR value leads to improved market sentiment and a recovery in STRC's price (and thus mNAV), the whole system could work. If not, Strategy may be forced into a cycle of further diluting MSTR to stay afloat, potentially leading to deferred STRC dividends or corporate decline. The article concludes with a hope for price recovery for Bitcoin, MSTR, and STRC.

Foresight News06/09 07:57

Saylor's Purchase of 1550 Bitcoin Is a Bad Trade

Foresight News06/09 07:57

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