donn

Tulip King 🌷 Verified account @tulipking · 6d

Looks like Saylor is gonna be a problem again

* sep '27 he owes $1B if he can't get MSTR above $183
* mar '28 he owes $2B if he can't get MSTR above $433
* jun '28 he owes $1.5B if he can't get MSTR above $672
* then there's another $2B+ in potential payments out to jun '29

^ Assuming he cannot recover the share price, MSTR will be out of cash by March of '28. But even worse, they're only 5 months away from having less than the 12 months cash in reserve they promised to maintain earlier this year. *expect them to charitably interpret their USD reserve policy moving forward

> So why assume he can't get the share price where it needs to be?

Honestly maybe he gets bailed out by Bitcoin on his upcoming September converts. But keep in mind Microstrategy has had negative Bitcoin yield this year. BTC per share is down 3.7% this year. Common holders are getting brutally diluted and market stress makes this worse (BTC yield was -11% in Q3 alone). With this class of management, I do not see how Saylor convinces anybody Microstrategy should trade at a premium to Bitcoin - which means to get MSTR up ~40% to $183, you're going to need to see Bitcoin well above ~$107k. Getting this pig back to $433 then $672 for the two following converts seems essentially impossible to me unless Bitcoin goes on a sun run.

> So can't he raise more cash and kick the can down the road again?

Unfortunately the powers that be have decided they've had enough of Saylor and he's getting kicked out of the indices. Expect the problem to only compound as the conditions get worse

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bismack Verified account @_bismack_ · Oct 29

Ton of fake slabs circulating on all the major platforms including eBay, Alt and Fanatics.

There was a PSA 10 Legendary Collection Gyarados that just sold on Ryan's Card House that was also deemed fake.

Apparently a group from Europe is responsible. Do your due diligence.

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donn Verified account @tzedonn · Oct 30

x.com/i/article/2116…

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