๐ Is the #bitcoin dump actually an attack on Saylor?
The current market action increasingly looks like a coordinated assault on Michael Saylor and his empire.
โก๏ธ $MSTR shares are getting hammered, making it harder for Strategy to raise fresh capital and continue expanding its cash reserves.
โก๏ธ $BTC itself is under pressure because Saylor now controls roughly 800,000 BTC, and the market has no clear idea what happens if that position ever comes under stress.
โก๏ธ Even Strategyโs bonds - once marketed as a relatively stable alternative - are being sold aggressively.
Since the opening of the U.S. session, large blocks of put options with strikes around $70 and notional values exceeding $10 million have reportedly been hitting the market.
Wall Street appears to be making a massive bearish bet against Saylor.
The problem is that this creates a vicious circle:
๐ Lower MSTR stock price โ harder to raise capital.
๐ Lower BTC price โ greater pressure on Strategyโs balance sheet.
๐ More pressure on Strategy โ more fear around BTC.
How does Saylor escape this death spiral?
At the moment, itโs not obvious.
The current market action increasingly looks like a coordinated assault on Michael Saylor and his empire.
โก๏ธ $MSTR shares are getting hammered, making it harder for Strategy to raise fresh capital and continue expanding its cash reserves.
โก๏ธ $BTC itself is under pressure because Saylor now controls roughly 800,000 BTC, and the market has no clear idea what happens if that position ever comes under stress.
โก๏ธ Even Strategyโs bonds - once marketed as a relatively stable alternative - are being sold aggressively.
Since the opening of the U.S. session, large blocks of put options with strikes around $70 and notional values exceeding $10 million have reportedly been hitting the market.
Wall Street appears to be making a massive bearish bet against Saylor.
The problem is that this creates a vicious circle:
๐ Lower MSTR stock price โ harder to raise capital.
๐ Lower BTC price โ greater pressure on Strategyโs balance sheet.
๐ More pressure on Strategy โ more fear around BTC.
How does Saylor escape this death spiral?
At the moment, itโs not obvious.