Vince Macri

[David Lawrence @d_1awrence]

Strategy have a stronger balance sheet today than when their stock was $543.

More Bitcoin, more USD, better digital credit products, stronger ability to raise capital.

Yet today their stock sits at $90.91.

The only difference is Bitcoins spot price is $62k & not $105-126k.

If you believe Bitcoin will return to an ATH in the future, this is an unbelievable entry point.

Bullish on $MSTR 🧡

[Vince Macri @biolution]

@GrainofSaltSF @Strategy Inoculation requires only tiny, infrequent re-stimulation (some might call them boosters)

[Vince Macri @biolution]

@jmrphy What's done is done

[Vince Macri @biolution]

@OffshoreHODL My concern is that sentiment is still bouncing back too quickly. Maybe I just follow the right people.

[Vince Macri @biolution]

@GoshawkTrades Climb or Mandell in 25

[Bit Paine ⚡️ @BitPaine]

when Saylor first started emphasizing the volume his stock traded at I didn’t understand the significance. naively, I thought price was all that mattered.

but fundamentally, public markets are a tool for companies to raise capital, and trading volume is a money printer.

if a stock trades $3-4 billion / day, as $MSTR does, the company can raise $30-40 million per day at 0.1% of volume, which is very unlikely to affect the price in the short term.

in intense bear and bull markets, volumes increase, and the company can raise more capital each day.

the issue for most companies is that raising capital is the easy part - the hard part is finding something productive to do with that capital.

but if your thesis is that you are stuffing an effectively infinite amount of fiat capital into a finite, adiabatic system (Bitcoin), then raising capital is your only barrier - you already know what you’re going to do with it.

the fundamental disconnect between $mstr bulls and bears is in understanding what happens when an infinite supply of fiat meets a finite supply of bitcoin.

[Michael Sullivan @SullyMichaelvan]

@NathanCPerry 100%. It's been interesting to watch the emotional evolution here:

1) Price dropped

2) People got angry because price dropped

3) Because people were angry, they looked for people to blame and battles to fight

4) They found those battles

Predictable bear market stuff.

[Vince Macri @biolution]

@_Adrian @Strategy @saylor DoEsNT mAtTeR BeCaUsE dIlUtIoN mEaNs tHeY MuSt Go to zErOoooo

[Vince Macri @biolution]

@BitPaine I agree. The recommendation to buy back STRC results from the perceived need to return to par ASAP, but it's probably best not to defend the "money-market" narrative.

[Vince Macri @biolution]

@BitPaine We're in the ridiculous phase of the bear where it keeps going down and you just laugh

[Vince Macri @biolution]

@NickKaknes @BitPaine @saylor They need less than 2B annually

[Vince Macri @biolution]

@StrategyMaxi @zaidlikesmstr Strategy detractors are really overextended here

[Vince Macri @biolution]

@Henry_20XX @Croesus_BTC Or suspend dividend and wait. Not pretty, but do you really think anyone will care once bitcoin goes to 200k and cumulative dividends are paid off utilizing a fraction of the balance sheet?

There are many options for Strategy to wait things out and survive.

[Vince Macri @biolution]

@_Adrian "We need the corn to pop."

https://t.co/oeowlbVFqM

[Adrian Morris @_Adrian]

Nice post by @btc_overflow re: $MSTR Volatility & likelihood of a new convert offering. TL/DR we need the corn to pop.

[Vince Macri @biolution]

@BitcoinArchive @BitPaine @LynAldenContact Yes, let the USD fund sit between 24 and 36 months. I'm conservative so would keep it at 36 and wait for the market to understand. I don't think the market will penalize them for idle cash if bitcoin goes higher. I wouldn't, and I'm all MSTR.

[Adam Livingston @AdamBLiv]

@chrisrich2020 It's not obfuscation. BTC Yield is the real obfuscation because it ignores other parts of the capital structure and CEBE shows EVERYTHING.

CEBE puts it all out there. It'll only seem like obfuscation to people who are unfamiliar with it.

Learn more @ https://t.co/jG7DMpy6uP

[Adrian Morris @_Adrian]

While I get the drive for novel valuation models for $MSTR, we must recognize what our equity actually represents.

CEBE | BPS | BTC Yield are KPIs not valuation frameworks or benchmarks.

Whether using CEBE or standard BPS, a "per share" metric of $BTC holdings is essentially a backward looking snapshot of asset accumulation.

Because a treasury company must constantly alter its share count (either issuing common equity to buy $BTC or fund dividend obligations), BPS is a moving, oscillating target.

Market valuation is forward looking & dynamic. Equating a point in time measure of capital efficiency with "value" or performance misses the reality of what these equities are: Sentiment driven optionality engines.

Market participats treat these equities, especially $MSTR, as powerful vehicles for $BTC exposure, not as per share allocations of an asset they have no legal claim to.

[Vince Macri @biolution]

@Croesus_BTC @BitcoinGambit John's teeth!

[Ragnar @RoaringRagnar]

Being incorporated in Delaware is a real disadvantage for Strategy.

Delaware law requires a shareholder vote to change their dividend payout frequency.

Which is why they have to hustle to get to 50% of the votes.

Strive were able to implement daily dividends with no shareholder vote, because they are incorporated in Nevada.

Both SpaceX and Tesla used to be in Delaware.

But after the nasty Tesla shareholder lawsuits where they voided Elon's $50 billion pay package (that he rightfully earned), Elon moved both companies to Texas.

Delaware is on a visible trajectory towards being more and more unfriendly and adversarial.

Strategy should seriously consider moving to a more business/freemdom friendly state, like Texas or Nevada.

Reposts/quotes/likes are highly appreciated to increase the likelihood thtat the Strategy team sees this.

@saylor @phongle @ColeMacro @PunterJeff @Werkman @CernBasher @ZynxBTC @AdamBLiv @adam3us

[Vince Macri @biolution]

@MartianLawyerB @ZynxBTC Interesting, good find!