Saylor's Strategy changes playbook and can now sell its bitcoin
View original at finance.yahoo.comSaylor's Strategy changes playbook and can now sell its bitcoin Scott Melker dives into Strategy's new playbook and selling bitcoin, AI, the world's central bank saying stablecoins aren't money, and other big crypto headlines…
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Strategy stated it will not necessarily adjust the STRC dividend rate solely based on STRC trading below par
60% confidenceStrategy is doing what it believes the market needs to see to restore confidence in its capital structure
60% confidenceThe biggest headwind for crypto right now is that institutional capital and interest have shifted toward AI and chips instead
60% confidenceThe biggest Bitcoin holder on the planet, Strategy, just entirely rewrote its rule book after years of only raising cash to buy Bitcoin
60% confidenceStablecoins show redemption frictions, trade off par, resemble ETF shares rather than a means of payment, don't settle on central bank balance sheets, and can't guarantee par across issuers
60% confidenceSaylor tweeted that 'we're going to need more charts,' which people misread as signaling another Bitcoin buy, but actually referred to new metrics needed for the expanded framework
60% confidenceStrategy has $2.55 billion in USD reserves, representing 17.4 months of dividend and interest coverage at current prices, or 25.9 months counting authorized Bitcoin sale capacity, with a floor policy of always maintaining at least 12 months of runway
60% confidencePresented the bear case on Bitcoin and Strategy in a debate with Scott Melker
60% confidenceDollar stablecoins are accelerating dollarization in fragile economies, weakening local currencies, and dodging capital controls because border rules cannot be enforced on self-custodied tokens
60% confidenceThe bigger question the market is probing is whether Strategy will still be able to buy Bitcoin going forward, and whether it was the only major buyer in the market
60% confidence