Oddbean new post about | logout
 Definitely prepared, MOE all the way, but it’s all about incentives. 

What is the incentive for Saylor to sell off MSTR corporate treasury, which would be diminishing in value with each traunch of sale, certainly at a loss?

They also have future debt that requires ever growing billions in collateral. 

It would be a a financial kamikaze mission that would also have Saylor and MSTR in shareholder/SEC litigation for years.

Never mind the fact that the first inside whisper of a sizable bitcoin sale would have institutional selling of the stock, as far-and-away its main use case is a levered bitcoin security play.