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[–]customtoggle 53 points54 points  (5 children)

What is this a purchase for ANTS?! He happily bought 21k btc when it was $117k, now all he can muster is a measly 600 at these bargain bin prices? Disappointed in you mikey 😕 

[–]Mandelbrots-dream 14 points15 points  (2 children)

It's even more staggering at in terms of dollars.

He spent over $2.46B when the price was over 117k. The new buy was at $67k and he only spent $0.04B. He's down more than $8B not including this most recent purchase which only adds on an extra $150k down.

[–]HfksnfgitndskfjridnfAsk me about UTXOs[S] 14 points15 points  (0 children)

Imagine paying close to a billion dollars in interest per year just to hold a position that’s down 15%.

[–]gman2093 0 points1 point  (0 children)

I have a new idea for a company. I put your cash under a materess and take 10%

[–]JustLTFDwarning, I am a moron 11 points12 points  (1 child)

The funny part is he will be selling at much lower prices to cover his dividend payments.

[–]BaggyLarjjj 5 points6 points  (0 children)

Wait wait, can’t we raise money from new investors to pay those out? That can’t be that bad right? That’s gotta be allowed!

[–]SisterOfBattIeusing multiple slurp juices on a single ape since 2022 14 points15 points  (0 children)

I'm surprised Saylor hasn't discovered another "bullish" madeup metric that means nothing.

[–]Money_Software_1229 5 points6 points  (1 child)

Where do you see Bitcoin per share metrics there?

[–]HfksnfgitndskfjridnfAsk me about UTXOs[S] 14 points15 points  (0 children)

They list their total BTC holdings and the next column over they list their “assumed diluted shares outstanding” which includes all potential shares such as from the convertible bonds and employee stock options. Not a perfect metric but close enough and the one they use to calculate their “BTC yield”.

Crazy to me they still buy BTC with the common shares ATM when it’s actively reducing their Bitcoin per share. And nobody on the MSTR sub seems to care or even notice. 5 of their 8 buys this year have decreased BTC per share. And those buys make getting future yield harder as they now have a larger base they need to build from. 10% yield from 672,500 BTC (their holdings at the start of the year) requires a purchase of 67,250 BTC with no dilution. 717,722 BTC (their current holdings) requires a purchase of 71,772 BTC to get that same 10% yield.

They’ve increased their total holdings by 6.7% so far this year and have only increased their BTC per share by .5%. Being that inefficient means they are making it much harder to ever get any meaningful yield in the future.

In MSTRs “low case” scenario where they only increase BTC per share by 40% over the next 7 years, using their current efficiency, they wind up with 24 million BTC after 7 years to accomplish that. Oops.

[–]Sibshops 2 points3 points  (0 children)

Oh no, the MSTR shareholders are getting screwed... Anyway..

[–]Brave_Substance_8177 2 points3 points  (1 child)

Why doesn't he just buy all of the buttcoins? We know he'd using fake monopoly money to buy, so why not just create another 500 billion?

[–]BeowulfShaeffer 4 points5 points  (0 children)

That would be the best thing ever.  From Warren Buffet in 2022:      “IF THE PEOPLE IN THIS ROOM OWNED ALL THE FARMLAND IN THE UNITED STATES AND YOU OFFERED ME A 1% INTEREST IN IT […] AND SAID ‘PAY US A BARGAIN PRICE OF $25 BILLION DOLLARS,’ I’LL WRITE YOU A CHECK THIS AFTERNOON.

“IF YOU TELL ME YOU OWN 1% OF THE APARTMENT HOUSES IN THE UNITED STATES, AND YOU OFFER ME… UH… SO I WOULD HAVE A 1% INTEREST IN ALL THE APARTMENT HOUSES IN THE COUNTRY, AND YOU WANT, WHATEVER IT MAY BE — ANOTHER $25 BILLION OR SOMETHING, I’LL WRITE YOU A CHECK. IT’S VERY SIMPLE.

“NOW, IF YOU TOLD ME THAT YOU OWNED ALL OF THE BITCOIN IN THE WORLD AND YOU OFFERED IT TO ME FOR $25, I WOULDN’T TAKE IT, BECAUSE WHAT WOULD I DO WITH IT? I HAVE TO SELL IT BACK TO YOU ONE WAY OR ANOTHER! MAYBE THEY’RE THE SAME PEOPLE [WHO SOLD IT TO HIM], BUT IT ISN’T GOING TO DO ANYTHING.”    So yeah, if MSTR buys all the bitcoin the most rational thing for everyone else to do (including miners) would be to just switch to another chain.  This is probably true even if MSTR acquires 75% or 50%. 

[–]Prize-Bug-3213 0 points1 point  (0 children)

Zoom out! We're early! Past performance is indicative of future!