@AntilesSeth@SteveMiran We still have to print though. You guys are pretending like monetary and fiscal are actually separate. They're not and we have to devalue the currency. Can say whatever you like about inflation.
@hillery_dan Hey Dan, what's the logic of 1.22 Mnav threshold? Been looking for the logic of that number. Doesn't make sense to consider preferreds full liabilities.
It's more that it's dilutive on a different axis. Increasing the total number of shares is always dilutive in terms of strict number of shares. However, mergers and acquisitions financed by issuing equity aren't consider inherently dilutive. So your analogy isn't quite right because raising cash to finance operations isn't inherently dilutive. There's always the question of whether a merger financed by stock was accretive dilution. The assumption when you buy the stock is its inherently accretive because it's Bitcoin. To be fair though, BTC yield is a misleading metric. Can't give a number ignoring all claims denominated in fiat. Everyone buying your stock certainly won't make that assumption. So I think Strategy deserves the questions, but Mallers is also self interested and sowing confusion for his purposes.
@orangeyield@ZynxBTC@MuchasGrac52924 Not only that, their warrants become convertible once their Mnav is over one. Caps their upside. Don't see why anyone would buy them over ASST.
@Bhavin40324@ZynxBTC It means the holder of the convertible ne can convert. It to equity and sell it if they want. It's dilutive. Not inherently bullish.
@LukeGromen@NitsuaTon D we know anything about the quality of the debt though? Or the relative leverage ratios of the different corporations? Kinda weak to just say debt fuel backs means ta dangerous.