“Michael, so you own 5% of all Bitcoin & decided you were going to sell some to test the liquidity?"
“That’s correct Dave.”
“And you did this immediately after using up your cash to buy back debt at an 8% discount?”
“I did, Dave.”
“So when you actually did what you said you were going to do, the liquidity test didn't go well?”
“Sadly true, Dave.”
"And you only sold 32 BTC, even though you knew that wouldn't be enough to cover the next year of dividend payments?"
"Yes, Dave."
"So in the process of selling BTC to try & save STRC, you ended up killing BTC, STRC, & MSTR?"
"Very astutely observed, Dave."
@rainnen23 shorting is typically less EV and technically more difficult than longing
combined with the reality that most traders lose money regardless of positioning, yeah it makes sense that folks completely bugger up shorting