Markets 🤑
What to know: 😱
- Jeff Dorman says Saylor’s got this on lockdown-no forced Bitcoin sales, darling! 👑 His board control and debt terms are like a fortress, apparently. 🏰
- Peter Schiff, the eternal Bitcoin grinch, predicts Strategy will “eventually go bankrupt” and wants a public debate with Saylor. 🎤💥 Can someone pass the popcorn? 🍿
- Strategy shares are down 33.42% this year, while Bitcoin’s up 0.4%. Ouch. 😬 Trading near a diluted mNAV multiple of 1.06x, says StrategyTracker. 📉
Oh, the drama! Strategy’s leveraged Bitcoin approach is under the microscope again, because apparently, everyone’s a critic these days. 🕵️♀️ Michael Saylor’s firm is being grilled over whether it can handle a market meltdown. Spoiler alert: Peter Schiff thinks it can’t. 🤷♀️
Speaking of Schiff, the Bitcoin skeptic extraordinaire, he’s been on a rampage on X (formerly Twitter, because why not?). 🦜 He claims Strategy’s model is built on sand and that those “high-yield” preferred shares? Yeah, he says they’ll never actually pay out. 😱 And if demand weakens, it’s a “death spiral”-his words, not mine! 💀
Schiff’s also convinced Strategy’s headed for bankruptcy and wants Saylor to debate him at Binance Blockchain Week in Dubai. 🎩✨ Sounds like a reality TV show waiting to happen. 🍿
Enter Jeff Dorman, Arca’s CIO, who’s having none of it. He calls the criticism “stupid, inaccurate takes” and says Strategy’s balance sheet is solid. 💪 No forced Bitcoin sales, he insists, thanks to Saylor’s 42% ownership stake and debt terms that don’t include pesky covenants. 🛡️ Plus, their legacy software business is still churning out cash, so it’s not all doom and gloom. 🌞
But let’s not forget: Strategy’s stock is down 33.42% this year, while Bitcoin’s barely budged. 😢 According to StrategyTracker, the shares are trading near a diluted mNAV multiple of 1.06x, which means they’re just slightly above their Bitcoin-backed value. 🤔
Dorman’s final word? Strategy’s not a systemic risk to Bitcoin. “If you follow anyone saying MSTR is a risk to BTC, tell them to call me,” he quipped. 📞 Meanwhile, Bitcoin’s chilling at $94,293, down 1.2% in the last 24 hours. 🌊
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2025-11-17 03:03