Coretard Finder BIP-110

[Coretard Finder BIP-110 @IfindCoretards]

The sun will come out again once BIP-110 activates

[Coretard Finder BIP-110 @IfindCoretards]

@ha1656976963511 @fejau_inc He should start this week by selling enough bitcoin until he gets the mNAV of MSTR back to 1.00.

That would be the accretive thing to do and it actually might help.

[Coretard Finder BIP-110 @IfindCoretards]

@GhostofWhitman @BitcoinedOne @btcefe @saylor That's the cool thing, neither do the orange tie wearing idiots that promote Strategy stock all day.

[Coretard Finder BIP-110 @IfindCoretards]

@GhostofWhitman @BitcoinedOne @btcefe @saylor Sorry I said 150, i should have said 157. Even worse https://t.co/n3MQaw8nHP

[Glenn Cameron @GlennOnrampBTC]

They issued common stock to buy the new bitcoin announced today

But here is what people will be missing

With about 350 million basic shares outstanding, the gross NAV per share comes to around $157, but MSTR was trading at $118 -a significant discount. This means issuing the new shares at $118 to acquire Bitcoin is actually dilutive to the Bitcoin backing per share, since each new share is being issued below its proportional claim on the Bitcoin holdings.

They also put about $100 million from the new issuance of MSTR into the cash reserve, even more dilutive, because zero Bitcoin purchased with that portion. So the flywheel is now running in reverse. Shareholders will have less BTC per share each time they do this.

Put another way, 1,550 coins spread over 1,409,600 new shares is 0.0011 bitcoin per new share, less than half the 0.00242 each existing share carried. Bitcoin-per-share falls.

[Coretard Finder BIP-110 @IfindCoretards]

@PhillyPhillyBTC @btcefe @saylor They likely have no other option to get mNAV back up from 0.80 to 1.00 other than selling corn. Maybe the market will take it better the second time around.

Or maybe they will just continue to hit the ATM at 0.80 mNAV and the orange tie wearing idiots will think it's accretive.

[Coretard Finder BIP-110 @IfindCoretards]

@BitcoinedOne @GhostofWhitman @btcefe @saylor They hit the ATM at 0.80 mNAV to buy the bitcoin. It was like they paid $150 per share for the bitcoin while everyone else's $MSTR was only worth $118. That is not accretive dilution.

[Coretard Finder BIP-110 @IfindCoretards]

@btcefe @saylor They don't care. He's been diluting them at 0.80-0.90 mNAV for months and they still think it's accretive dilution because the fake mNAV on their website is above 1.20.

[No Quarter 110 IQ @FreeSpeechBTC21]

we need this message more than ever!

[Coretard Finder BIP-110 @IfindCoretards]

@UpperEchelonUS @PunterJeff @mattkratter He's not talking about @mattkratter. Matt operates with zero career risk. No boss, no VC masters, no Wall Street capital to appease and doesn't care about getting invited to bitcoin events. That is what allows him to say what he thinks.

This is obviously about @jackmallers

[On-Chain Mind @OnChainMind]

Bitcoin cash extraction has collapsed.

At the cycle peak, realised profit extraction hit over $55B on a 30-day basis.

Today, it is closer to $3B. That is an almost 10x drop in profit-taking,

Historically, that kind of collapse is exactly what you want to see in accumulation territory.

[Coretard Finder BIP-110 @IfindCoretards]

@1hmle @adam3us He should take his own advice.

[Coretard Finder BIP-110 @IfindCoretards]

@pr1234321 @AlexesNakamoto Yep, most ppl didn't say he will get liquidated.

If bitcoin has one more big dump $STRC will trade far below $100, the real mNAV will be even worse than the current .80, and the bitcoin will be down 40-50%. At that who will still believe in the prefs business model?

[Coretard Finder BIP-110 @IfindCoretards]

@jungleincxrp @BTCtreasuries @jackmallers He knows his investors are orange tie wearing idiots that will believe anything he says.

[Bob Burnett @boomer_btc]

Seriously alarming

[Coretard Finder BIP-110 @IfindCoretards]

Running Bitcoin Knots 29.3.1

Time to rent some hash and scale it up into late July

[BTCbello @Bitbello]

BIP-110/RDTS: slowly then suddenly.

[Coretard Finder BIP-110 @IfindCoretards]

@scottmelker STRC is marketed as a reliable safe investment. If we're unfortunate and bitcoin breaks down at 59k we'll see how safe it is.

What happens to $STRC at 50k, 40k, 30k? Probably $80s at 50k, $70s at 40k, $60s at 30k.

Grandpa's investment down 40%.

[Coretard Finder BIP-110 @IfindCoretards]

@scottmelker MSTR already lost it's premium

[Coretard Finder BIP-110 @IfindCoretards]

@scottmelker This post is brought to you buy the same dude who was shilling yield products back in 2021.

Self custody is the only way.

They want you to buy anything but the real thing.

[Coretard Finder BIP-110 @IfindCoretards]

@BitcoinNewsCom It's Market Cap / BTC Holdings

He has been diluting $MSTR investors under 1.00 mNAV for months.

[hrdk @hrdktwt]

Someone on Reddit built a game where you ride a dirt bike on top of any company's stock chart.