@fgthiel@saylor Saylor only gets equity to buy when Bitcoin is on upswing. He's never able to purchase when Bitcoin is in bear market. Buy high, hold low is not sustainable. Now he's what near default again at 65k BTC.
@mSh59143299@fgthiel@saylor Microstrategy a ponzi, Bitcoin could hit 2M, correct to 800k and game over for Saylor. Marathon should do it but with far less recklessness, leverage. Bitcoin never goes up in straight line.
@fgthiel@saylor I own Marathon. Please don't go down the road of Saylor where it is on margin call every time BTC corrects. Please at least do it in responsible manner.
@PpollingNumbers Morning Consult is most dishonest firm. They rigged polls against Trump entire election cycle. Third election they missed by 7 points. Close shop!
He running an unsustainable ponzi, probably not illegal, but highly unethical. Kernin should called out the obvious lies. When you sell Bitcoin for 3x prem, cash out shrs, buy yourself BTC at 1-1 NAV is scam. Hundreds billions will be lost as he gets rich. He nearly been on margin call twice since 2022
Glad SEC gave this creep a second chance.
MicroStrategy was serious. The company, along with its top executives, was accused of materially overstating its revenues and earnings from the sale of software and services. This led to the company's public financial reports showing positive net income, when in reality, they should have reported net losses. Stock plunged 99 in 2000, in excess of 50B shareholder equity wipeout.
@Convertbond Now, they're writing articles on how a solid balance sheet is. These young investors are 10x more greedy hedge funds. When this goes bad, they are in trouble
Microstrategy a Ponzi. Bitcoin is NOT
As MicroStrategy continues to purchase Bitcoin at higher prices, its average cost basis increases. This makes it more difficult for the company to realize profits on its Bitcoin holdings if the price of Bitcoin remains stagnant or declines. Microstrategy could theoretical face liquidation at any Bitcoin price after a significant correction.. Many even in crypto industry have doubts of Microstrategy long-term sustainability.