Saylor calls a bull market, but Strategy spent ~9x more on STRC buybacks than on bitcoin last week
Michael Saylor said on Bloomberg Tuesday that bitcoin is at the start of a new bull market and headed back above $100,000.
I'd watch where Strategy's cash went instead. Its Monday filing shows $192.4M spent buying back STRC preferred stock vs $21.5M on 250 BTC. That's ~9x more on buybacks. At ~$83K, its 848,250 BTC sits only ~10% above the $75,444 average cost.
Sources: Arkham: Strategy also repurchased 1,932,145 STRC shares for $192.4M in the same week · @DeItaone: Saylor predicts bitcoin will surge back above $100,000, says bear market is over; BTC near $83,000 · @saylor: Bitcoin is raw financial energy. Joined Bloomberg Crypto to discuss the bull market setup · @WatcherGuru: Michael Saylor says Bitcoin is at the beginning of a bull market
Not financial advice. For informational and educational purposes only.
In July, Treasury fined a US company $200,000 because a subsidiary failed to report a $92,478 investment in a Chinese AI and robotics…
In July, Treasury fined a US company $200,000 because a subsidiary failed to report a $92,478 investment in a Chinese AI and robotics company. Treasury announced that first-ever penalty on Oct 7. It's the enforcement backdrop for the proposed rule Treasury put out on Thursday, Oct 22, and I think it tells you how seriously this program is going to…
Viral chart: global stocks down ~$10T from highs, South Korea -43%; a 43% drop needs a 75% gain to recover
A chart going around X this weekend says global stock markets have lost about $10 trillion from their yearly highs, with South…
US semiconductor producer prices +26% YoY in September; at that pace chip prices double in about 3 years
US producer prices for chips and electronic components rose 26% YoY in September, the 6th…
Black Monday 1987 — 22.6% in a Day, Still the Benchmark
On October 19, 1987, the Dow fell 508 points, or 22.6%, closing at 1,738.74 versus 2,246.74 on October 16, still the Dow's worst one-day percentage…
On October 19, 1987, the Dow fell 508 points, or 22.6%, closing at 1,738.74 versus 2,246.74 on October 16, still the Dow's worst one-day percentage decline on record. The S&P 500 dropped 20.47%, from 282.70 to 224.84, its own worst day. Analyses…