Aug. 15 at 1:06 PM
$BTC.X
$COIN $HOOD $MSTR $SPY
GAAP accounting isn’t all that important to commodity based companies ( oil, gas, etc). If you think of bitcoin as a commodity.
He sold
$1 of stock and got double, triple the amount of coins.
It was like half off.
Bitcoin per SHARE is what counts. Not what price they paid. Remember the “ infinite money machine “? That’s what it’s about.
Bitcoin goes to
$12K the industry is toast. IMHO that won’t happen because bidders will step in to support it. Too much is invested in it in infrastructure.
Point 2… most of mstr leverage is from shares sold in the form of preferreds. They are permanent and no legal claim on anything unless in wrap up.
June saw insane liquidation of bitcoin to crush it here. Implying low
$60K was the clearing price for it.
