$MSTR It looks increasingly likely that some Bitcoin has been sold to help fund the upcoming $STRC dividend payment on May 31st. And honestly, if you’ve been following the company closely, this shouldn’t come as a surprise. Both Saylor and Phong have repeatedly hinted since the earnings call that... Bitcoin sales were now part of the company’s available capital allocation levers. Given that $MSTR hasn’t exactly been trading in strength, utilizing some of the unrealized tax losses tied to higher-cost-basis Bitcoin purchases, while that window still exists, actually makes a lot of sense. (Credit to ₿itcoin ₿eliever who’s put out extensive work predicting this) Personally, I think it’s a good decision. It shows the evolution of the company and its willingness to actively utilize another lever from its evolving playbook, which ultimately only strengthens its capital market operations over time. That said, if a Bitcoin sale is officially announced next week, shareholders should probably prepare for the narrative that follows. The headlines will inevitably paint it negatively. The bears will claim it’s over. And X will most certainly become a colorful place for a couple weeks. But nothing changes fundamentally. The company is still well on its way to becoming the largest Bitcoin holder on the planet and remains on track to approach the 1 million mark sometime this year. Interesting times ahead. $BTC $MSTR $STRCshow more

We are good. Let the paper hands sell.

It’ll be entertaining at the very least 🤣

OMG, this is the end Brother! Sell all of our $MSTR shares and $BTC for T-bonds🤣🤣🤣

I might move my entire position to ETH 😂😂

Saylor and Strategy will be the end of Bitcoin. May ETH and Fiat reign forever.🤣🤣🤣

True😂 happy Friday brother

Happy Friday as well! I’m off to the Fiat mines soon🙏✊🟠

Hope you have a great day ahead 🍻

Taxes. Sell the expensive for loss and buy cheap

@grok is this true?

Hufe tax loss! awesome

💯

HODL can’t be a DOGMA. Harvesting unrealized tax losses is intelligent.

Management realized precisely that and acted on it

Yes, most people judge things based on their emotions.

There are a lot of emotional people on here.

$MSTR buying $BTC to fund $STRC dividend isn't surprising - Saylor's been hinting at it.

Correct.

"It looks increasingly likely" - Would be great to know where are you looking? MSTR publishes their holdings and transactions openly - its all public, do you see any ledger record of sale?

There’s been movement on chain and a small fraction looks to have already been sold. We have the dividend obligation coming up on the 31st and it’s likely for that

Movement between wallets is the only recorded fact. Could this be done to sell BTC? Yes. Does it mean anything has been sold - No. Question is what is the benefit of spinning facts into non confirmed narrative before the facts are out?

I didn’t present it as fact. I noted on-chain movement and offered an interpretation based on timing and the company’s own recent messaging around this. That is called analysis. The company has been vocal about these actions. I am simply connecting the dots.

Yes! And also its a choice, I would prefer to connect the facts only, if I wanted to buy more lower may be I would also pretend I am about to sell if I were @saylor ;)

They have also stated in the past that they would sell options to fund the dividends

🧡🧡🧡🔥🔥🔥💥💥💥🐂🐂🐂🐐🐐🐐✔️✔️✔️👍🏻👍🏻👍🏻🚀🚀🚀

Loving the upgrade Mr John🔥🔥🧡

Thank you, Zaid. 🧡🧡🧡🔥🔥🔥💥💥💥🐂🐂🐂🐐🐐🐐✔️✔️✔️👍🏻👍🏻👍🏻🚀🚀🚀

I'm telling you now, theres thousands of people on this planet that do not want STRC to work, and they will do anything to F it up by suppressing the price. Whales are still in control.

They will certainly try. Doesn’t mean they’ll succeed

So they have like 800000 BTC and they wanna sell 400 BTC to get a tax benefit… and people are freaking out about it? Low iq retards man.

People are just emotional

Wrong. They are selling for tax harvesting reasons.

Two things can be done at the same time I hope you understand that.

$ASST that is all. Saylor is letting them have their time in the sun. Enjoy it.

Doesn’t come as a surprise to me. To you, Saylor Bitches, it is a surprise. What about never sell, HODL, diamond hands…? If Saylor takes a shit you Bitches show up with spoons. You deserve to be the bag holders.

This is not the first time they have sold bitcoin to tax loss harvest and won't be the last. The last time they sold was December 2022 which was near the bottom. They also bought the bitcoin back soon after. Expect the same pattern here.

Yeah we’ll def buy a lot more in the coming weeks

Sounds like a bunch of cope to me. Saylor said sell a kidney if you must. Don’t sell your bitcoin. Now backtracking because they suck… it’s all good. Cope away

what is the point of STRC if Bitcoin is being sold to fund it? Or even forgetting about the Bitcoin sells, what is the point of STRC in general?

Hey man long time no see! Happy Friday - the point is to allow Strategy to be a net accumulator of bitcoin, i.e. selling a very small fraction (.005%) of its holdings while enabling the structure to support buying significantly more over time. In this specific scenario as Phong mentioned there’s also a tax credit that can be obtained while selling high cost basis btc - the point of $STRC it to give Strategy access to a 300Trillion pool of fixed income capital

appreciate the color. I remain a bear for now honestly. This environment doesn't seem to be the best for Bitcoin to excel but am keeping tabs on it and MSTR

That’s the advantage of being a long-term investor: short-term macro doesn’t matter much. I’ll keep a close eye on potential entry points if we move lower from here. How all is well with you otherwise 🫡

Could they be transferring some BTC to Coinbase to be used for perpetual trading now that the CFTC has approved Coinbase and Kalshi for perpetual BTC futures and options trading? @saylor

@saylor If you’re curious on what’s driving the sale:

Head and shoulders. Could go sub $10

Does anyone know if when he sells, is he selling OTC like he’s buying? Or would sales actually affect BTC price?

They would be selling .005% of their holdings. There’s far more coins sold on the market on any given day. It’s going to have no material change to the price.

Why would you do it on a down day? I’d say FUD

Because the div obligation is coming up and the common is down

"Bitcoin sales were now part of the company’s available capital allocation levers..." In other words, when we are desperate to raise money and can't raise equity we will sell the only liquid asset we own...

It adds a layer of optionality that helps keep the company from being pinned down by equity market conditions. Selling .005% of holdings to fund dividend obligations, without needing to tap common equity, while also utilizing the tax advantages associated with high-cost-basis bitcoin, is a net positive from a capital structure perspective. Don’t forget the company is also on track to own a million coins this year.

Lots of thesis drift if we talking about tax lost harvesting...