Debt/BTC NAV = 12%. IMO you don’t get the meaning of ‘margin call’. Also, as ‘Bitcoin VC’ (😂😂😂 it doesn’t get more oxy-moron than this) what do you think is a good level of Debt/Equity ratio? And how would equity be capitalised if not with BTC?!
Discussion
People are roasting because Saylor found a way to print FIAT instruments and siphon away BTC. I think that’s genius. Will copycats be destroyed? 100%. But when that happens I hope you have a pile of cash to buy MSTR at mNAV < 1… and this will be when BTC will also be low in the cycle.
When mNAV goes up to >1.8 convert into BTC. This is a way more efficient strategy than DCA.
Saylor is a bad actor. He wants custodial Bitcoin and Bitcoin backed by debt.
Bitcoin should be self-custodial and debt free. Money backed by debt is what the Fed and other central bankers want.
And if BTC corrects more than 88% I think all BTC VC morons will be way more in the shit than Saylor.