Okay, let's get this straight. Michael Saylor's Strategy—still buying Bitcoin? You could've knocked me over with a freakin' feather. NOT. I mean, are we really supposed to act surprised that the guy who practically married Bitcoin is still doubling down? Give me a break.
So, here's the breakdown: Strategy scooped up another 397 bitcoins between Oct. 27 and Nov. 2, dropping $45.6 million like it's Monopoly money. That's an average of $114,771 per coin. Now, correct me if I'm wrong, but isn't that, like, way above what Bitcoin's actually worth right now? Are they just burning cash at this point?
And as of November 2nd, they're sitting on a mountain of 641,205 bitcoins, bought for a cool $47.49 billion. That's $74,057 per bitcoin, including all the "fees and expenses." Fees and expenses...sounds like a euphemism for "Saylor's personal jet fuel." But hey, who am I to judge? Maybe they got a frequent flyer program with Bitcoin rewards.
But wait, there's more! To fund this Bitcoin bender, they're hocking preferred shares and common stock like they're going out of style. Sold 76,017 STRF shares, 49,374 STRK shares, 29,065 STRD shares, and a whopping 183,501 MSTR common shares. All to buy more Bitcoin. It's like watching a gambler mortgage his house to play another hand of poker. Only this time, the house is a publicly traded company.
It's all part of the "ATM programs," apparently. I'm picturing Saylor at a literal ATM, shoving in preferred stock certificates and spitting out bitcoins. Only instead of a dingy convenience store, it's the New York Stock Exchange. And instead of getting a few hundred bucks, he's pulling out millions.
Strategy's got some "remaining capacity" under these ATM programs. We're talking billions—$1.7 billion for STRF, $4.2 billion for STRC, $20.3 billion for STRK, $4.1 billion for STRD, and $15.9 billion for MSTR. That's a whole lotta zeroes.
But here's the real question: how long can they keep this up? How long before investors realize they're basically funding Saylor's personal Bitcoin obsession? I mean, at what point does "strategic investment" become "reckless gambling"? Offcourse, it's their money to burn - but it ain't gonna stop me from commentating.
And where's the SEC in all this? Are they just sitting back, watching the show? Or are they sharpening their knives, waiting for the right moment to pounce? I'm not holding my breath.
I'm starting to wonder if Saylor's actually a genius. Either that, or he's got some kind of Jedi mind trick going on, convincing everyone that this is a sound financial strategy. And honestly...maybe I'm the crazy one here. Maybe Bitcoin is the future, and Saylor's just ahead of the curve. But something tells me this whole thing is gonna end in tears.
Look, I'm not a financial advisor, and I don't pretend to be. But let's be real: this whole situation smells fishier than a week-old tuna sandwich. Saylor's basically running a Bitcoin Ponzi scheme, using investor money to prop up his own holdings. It's bold, I'll give him that. But it's also incredibly reckless. And when the music stops—and it will stop—a lot of people are gonna get hurt. Mark my words.
