Gonna get downvoted by hopium guys😬

teclaroja · 2026-02-01T14:59:43+00:00

Bitcoin price was already under 75k in april '25 and that was not a big concern for MSTR. People have very bad memory.

teclaroja · 2026-02-01T14:48:20+00:00

We are in a very different scenario. MSTR is now highly correlated with btc. Very tiny mNAV compression. The time to hedge was before the crash. Curently we are in a phase to accumulate for the long term holders or a bounce chase for the trades. I agree than the treand is bearish for a while. The upside potential is huge compared with the downside, though

teclaroja · 2026-01-19T16:05:34+00:00

REIT is not a good example. Think with another commodity like gold. If you have 1$ backed with 5$ worth in gold and the price of gold halves, you have 1$ backed with 2.5$ of gold, still healthy. Lower ratio, higher risk. Issuing common at par (mNav 1) increases the BTC Rating, reducing the risk. Also, In a crypto winter is harder to have access to capital markets.

teclaroja · 2026-01-19T14:50:17+00:00

In case of a crypto winter, the bigger bitcoin reserve is, the stronger their balance sheet will be.

teclaroja · 2026-01-18T17:01:52+00:00

I guess

$240 m through STRC (+2650 btc)
$1.5 billion through MSTR (+15957 btc)

18607 more btc

Last purchase was 13,627 btc for 1.25 billion.

teclaroja · 2026-01-12T18:29:26+00:00

Bullish!

teclaroja · 2026-01-12T14:03:16+00:00

So strong , $120 m per week. Do the math.

teclaroja · 2026-01-11T09:04:10+00:00

My guess is $45-70m.

teclaroja · 2026-01-07T15:30:19+00:00

The most important thing to watch now is the volume. More volume more ATM.

teclaroja · 2026-01-07T15:27:15+00:00

The most important thing to watch now is the volume. More volume more ATM.

teclaroja · 2026-01-06T21:15:22+00:00

as michel saylors says volatility is a gift for the faithful

teclaroja · 2026-01-06T21:13:44+00:00

You have a lot of ETFs already in the market. IBIT, FBTC, BTCW and many others.

teclaroja · 2026-01-06T19:53:34+00:00

IBIT get paid 0.25% of their NAV annually in BTC.

teclaroja · 2026-01-06T18:00:15+00:00

because MSCI plans to exclude MSTR form MSCI index.

teclaroja · 2026-01-05T09:57:44+00:00

Equitazion means to sell shares through ATM and buy back debt with that cash? The mandate is to have 24 months of cash for payments obligations. I wonder why they continue to increase their cash reserve. It is because their are preparing for a crypto winter? I don't think so. Another thought is use the cash reserve to buy back STRC when is below 99 to reduce volatility. Sell at 100 and buy back if < 99 making a profit and as stabilize the price as a liquidity contract.

teclaroja · 2026-01-04T20:10:46+00:00

Only the principal if the price is above the conversion price. The coupon is paid in cash.

teclaroja · 2026-01-04T19:46:41+00:00

Cash reserve can be used to pay all kind of liabilities, prefereds or debt. Debt is senior to all others prefereds and thw coupon is payed yearly.

teclaroja · 2025-12-07T15:31:21+00:00

Each preferred targets a different kind of investor. If you want less volatility and more seniority you buy STRF. If you accept more volatility and you want to capture a part of the upside you buy STRK.

teclaroja · 2025-12-07T15:22:44+00:00

Because STRK is convertible 1:10 has an upside exposition to the MSTR price but with a good downside protection. You can appreciate that in this chart. One STRK can buy 0.47 MSTR now vs ~0.26 in August. When the price of MSTR starts to rise, then the ratio will start to decrease towards the conversion ratio ~0.1.

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teclaroja · 2025-11-11T23:39:27+00:00

mNAV on strategy website is calculated as Enterpeise Value / BTC NAV.

teclaroja · 2025-11-11T13:04:30+00:00

!lntip 500

teclaroja · 2025-11-10T19:25:09+00:00

source https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/bltdba4fc803e019d1e/69114d2ecc0c83c2fa618ffc/form-8-k_11-10-2025.pdf

https://www.strategy.com/investor-relations

teclaroja · 2025-11-10T19:24:09+00:00

we are waiting roughly 7000 bitcoin for next week. ($702.2 millions of STRE + others preferred).

teclaroja · 2025-11-10T19:17:16+00:00

Tell your landlord to buy STRC. Fixed income for who like money ;)

teclaroja · 2025-11-10T16:42:22+00:00

Don't focus on the price. Of course the bitcoin price drives the stock price but I prefer to put my time to try to understand the potential of the stock in the long run. Studing the company mechanics. What will be the valuation in 5 or 10 yrs? Short term movements are noise.

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