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INSIGHTS: 🇺🇸 Warren Buffett has survived everything. The 1987 crash. The dot-com bubble. The 2008 crisis. COVID. Every war. Every recession. Every panic. For 60 years his answer was always: buy. Today his answer is $380,000,000,000 in cash. "The dollar could collapse." "I don't understand most of the stock...

89,688 görüntüleme • 4 ay önce •via X (Twitter)

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"We do adoption events every month. Yesterday was our biggest one. Forty-two dogs found homes. It was a wonderful day. Winston did not find a home. He is eleven years old. He is large. He is silver-gray and his whole muzzle is white and his eyes are the color of a winter morning and he is the gentlest dog I have ever put on a leash. He sat in the same spot for six hours. He did not pace. He did not bark. He watched every dog around him get chosen and he wagged his tail for every family that walked past him without stopping. Every single one. For six hours. At 5pm when the last family had left and the last car had pulled out of the parking lot I turned around and Winston was sitting at the edge of the empty lot wagging his tail at the space where the people had been. I sat down on the asphalt beside him. I put my hand on his silver back. He leaned into me. I don't have a word for what I felt. I have worked in rescue for nine years. I have never sat on a parking lot asphalt at the end of a failed adoption event and felt so completely undone and so completely certain simultaneously. Undone because he deserves everything. Certain because he is going to be okay. Both at the same time. Both because of him. He wagged at the empty parking lot. That is who Winston is. That is who he has been every day of his eleven years. Share this for Winston. He wagged at the empty parking lot. The least we can do is find him someone to wag at who stays.

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Sold 32 coins. Bought 1,550. 48 times more, at a 15% discount, into the crash the market blamed on the sale. Strategy disclosed today that while everyone panicked over its $2.5 million Bitcoin sale, it was quietly buying the dip that panic created. 1,550 Bitcoin for $101 million, at $65,332 a coin, far below the $77,135 it sold for and below its own cost basis. The bears called the sale the first crack, a forced liquidation, the start of the death spiral. The answer was a buy 48 times the size of the sale that scared them. This is the machine we described: a state-contingent allocator. Above its funding line, it turns market access into Bitcoin. The sale was the exception. The buy is the rule. It also closed the question the sale opened. The cash reserve behind the preferred dividends had thinned to $900 million, about six months of cover. He rebuilt it to $1 billion in the same week. But watch how, because that is the real story. He funded none of it with coins. He funded it with $181 million of freshly issued stock, then spent it on Bitcoin and the reserve. The coins were never the funding source. The equity is. That is the flywheel working exactly as built, and the cost of it surfacing at the same time. Every turn now runs on issuing shares, and the premium that once made each share buy more Bitcoin than it diluted has compressed hard. He bought low. He sold his own stock low to do it. So the question quietly turns. It was never whether Saylor sells his Bitcoin. He just proved again that he buys far more than he sells. It is what each turn of the engine now costs in dilution, and how long the market keeps paying a premium worth that cost. He bought the dip. The dip was partly his own making. And he paid for it in equity, not coins.

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