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#MicroStrategy's “bitcoin strategy” is going fully pyramidal. The company has spent $33 billion on bitcoins now “worth” roughly $41 billion over the past 5 years (at least $7-8 billion of those bought with borrowed money). Now #MichaelSaylor just announced a $21 billion sale of their special new #STRK perpetual strike “stock” (different from the regular stock, which is #MSTR) to buy even more bitcoin. Note that the market cap of MicroStrategy is ~$60 billion, so that's a sale of 1/3rd (sort of - STRK isn't exactly a share of stock).

Paraphrasing Dan Davies
here, something along the lines of “the nature of fraud is to expand until stopped by an external force”…

#fraud #stockmarket #economics #economy

Strategy Announces $21 Billion STRK At-The-Market Program TYSONS CORNER, Va., March 10, 2025—StrategyTM (Nasdaq: MSTR; STRK) today announced that it has entered into a sales agreement pursuant to which Strategy may issue and sell shares of its 8.00% series A perpetual strike preferred stock, $0.001 par value per share (the “perpetual strike preferred stock”), having an aggregate offering price of up to $21.0 billion (the “ATM Program”). Shares of the perpetual strike preferred stock are convertible by the holders into shares of Strategy’s class A common stock. Strategy expects to make sales of perpetual strike preferred stock pursuant to the ATM Program in a disciplined manner over an extended period, taking into account the trading price and trading volumes of the perpetual strike preferred stock at the time of sale. Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin and for working capital.
#Economy #economics #fraud #microstrategy #stockmarket #michaelsaylor #mstr #strk
This entry was edited (9 months ago)
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