Ola Ξlixir
AI Engineer, Building Vano, Web3 Growth
Strategy is heading toward bankruptcy and will have no way to pay dividends if bitcoin keeps falling. It sold 3,588 bitcoin worth $225 million, per Watcher Guru, while Michael Saylor keeps promoting bitcoin, like an influencer posting bullish videos while trimming the bag. This time it is out of money, and lenders will not extend more than it can repay. x.com x.com x.com
Strategy is headed for a Luna-type event now that it says it may sell bitcoin to fund reserves, dividends, interest and buybacks, per @wallstreetbets. Luna's collapse began when its treasury announced it was liquidating bitcoin to stay afloat. As @TedPillows notes, Do Kwon used UST to buy bitcoin and then dumped it to save UST; Saylor used STRC to buy bitcoin and may now dump it to save STRC. Strategy's choice is selling bitcoin or risking bankruptcy. x.com x.com x.com x.com
Strategy's board-approved framework allowing bitcoin sales is a pressure valve that signals building stress and could start a downward spiral. Its $2.55B USD reserve covers only 17 months of dividend and interest payments, its 847,000 BTC carry about a $13B unrealized loss, and the stock fell almost 30% in a week. Because Strategy holds 2.8% of all bitcoin, even small sales would be seen instantly, panicking MSTR holders whose thesis is never selling and making new equity raises harder. x.com
Strategy's premium looks exposed now that its 'never sell Bitcoin' story is retired. Selling 32 of 843,706 BTC is a rounding error, but it reveals a structured, dividend-driven mechanism to liquidate BTC when preferred stock obligations require it. Strategy has five preferred series, some paying 10-11.5%, and those payments don't care what bitcoin does. Saylor's math that bitcoin need only grow 2.3% a year to cover dividends forever holds only if bitcoin cooperates. x.com
Strategy might be undervalued because it holds far more Bitcoin than the first time its stock traded at the same price. At $140.51 today, it holds 848,517 BTC, versus 193,000 BTC the first time shares reached $140.51. x.com x.com
Strategy's sale of $216 million of Bitcoin to fund dividends exposes its flawed model: it bought Bitcoin above $120,000 and is now selling around $62,000. Per The Kobeissi Letter, Bitcoin fell below $62,000 after the sale was announced. x.com
Strategy sold some bitcoin after saying it never would, making it the biggest scam company ever. Director Jarrod Patten then sold 22,300 shares in the open market at an average $152.60. x.com x.com
Strategy is attracting some of the world's largest fund managers because they want Bitcoin exposure. Their buying supports the bullish case for MSTR as a listed vehicle for institutional Bitcoin demand. x.com
Strategy is turning to selling bitcoin to rescue its troubled STRC preferred program, which points toward bankruptcy. It launched a Bitcoin Monetization Program that lets it sell BTC to fund operations, per Watcher.Guru, and the news sent the preferred up 10%, meaning it would sell bitcoin low to support STRC high. x.com
Strategy's approval to sell up to $1.25B of bitcoin for STRC dividends and debt interest removes the market's one big potential forced seller for now, leaving bitcoin's low float to push it to new highs. The move stretches the dividend runway from 5-6 months to 15+ months, or 25+ with the sale. With HODLed supply at a record, expect more chop, then new all-time highs and some altcoin outperformance. The risk: in a later secular bear market, Strategy's selling could feed a downward spiral. x.com … Show more
Daily STRC dividends advance Strategy's Bitcoin financing machine. Shareholders approved the payments, and Strategy's Bitcoin printer is unstoppable. x.com
Strategy runs a Ponzi-like loop: new capital buys bitcoin, which lifts the stock and attracts more capital, while the business makes almost no organic cash flow and collapses without constant raising. It trades at a big premium to NAV, effectively selling $1 of bitcoin for $1.50, lost $12.5B in Q1 2026, and has now sold bitcoin for the first time since 2022 despite Michael Saylor's vow never to sell. Owning bitcoin itself makes more sense than owning Strategy. x.com x.com
