Michael Saylor’s Bitcoin Binge: Is This Genius or Just Plain Foolish? 🤔

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Ah, Strategy-formerly known as MicroStrategy-a company so tied to Bitcoin that it might as well be called “BitCorp.” But alas, the headlines this time are more tragicomedy than triumph. Their stock has sunk lower than a riverboat gambler’s luck after Michael Saylor decided to tweak some rules faster than you can say “blockchain.” 😅

Apparently, ol’ Saylor made an announcement about issuing shares with all the restraint of a kid in a candy store. The result? A nosedive sharper than my uncle Jed’s failed attempt at tightrope walking over the Mississippi. Let’s dive into the details, shall we?

Stock Plummets Like a Lead Balloon

Tuesday saw MSTR drop by 7.43%, closing at $336.57. And if that weren’t enough, the after-hours trading gave it another little nudge downward. In the past month alone, the stock has lost over 21%. Yikes! That’s worse than losing your hat in a tornado. 🌪️

Meanwhile, Bitcoin itself took a tumble from its record high of $124,000 down to $113,000-an 8.6% dip. For Strategy, this was like stubbing your toe while running late for church on Sunday. Ouch! A weaker Bitcoin price and disgruntled shareholders? Talk about a double whammy.

The Rule Change That Made Investors Howl

Now here’s where things get juicy. Remember back in July when Strategy promised not to issue new shares below 2.5 times its net asset value (mNAV)? Well, apparently promises don’t mean much these days. This week, Saylor pulled a fast one and changed the rules faster than a con artist switches aliases.

The new policy now says they can issue shares under that magical 2.5x threshold “to pay interest on debt obligations, fund preferred equity dividends, and when otherwise deemed advantageous to the company.” Advantageous to whom exactly? Because it sure doesn’t sound too peachy for the investors who trusted him. 😒

Investors Sound Off: “What Gives?”

Naturally, Twitter (or should I say X?) lit up quicker than fireworks on Independence Day. One investor grumbled, “Just a couple of weeks ago at the earnings call, it was announced no issuance below 2.5mNAV. Why the change? Promising one thing then doing another isn’t exactly confidence-inspiring.”

I don’t disagree with issuing common stock opportunistically; however this is a real issue for me. Just a couple of weeks ago at the earnings call, it was announced no issuance below 2.5mNAV. Why the change? Promising investors one thing, then changing very soon after, is not a…

– Thorleif Egeli (@thorleifegeli) August 18, 2025

Another former shareholder chimed in with something along the lines of, “The head honcho said he wouldn’t sell below 2.5 mNAV, so I bought. … And guess what? He sold below 2.5 mNAV anyway.” Classic bait-and-switch move right there.

Of course, there were always those eternal optimists-or perhaps eternal gamblers-who shrugged it off. One trader quipped, “He’s literally telling you straight up he’s gonna buy a… ton more BTC.” Yes, because nothing screams financial prudence like doubling down on a volatile asset during turbulent times. 🙄

Still Betting Big While Everyone Else Frets

Despite the uproar, Strategy hasn’t slowed its Bitcoin-buying spree. Nope, just a day before the chaos unfolded, they proudly announced yet another $51 million purchase of Bitcoin-even as prices flirted with record highs. At this rate, they’ll own half the world’s BTC supply by next Christmas!

Currently sitting pretty with 629,376 BTC worth roughly $71.3 billion, Strategy’s identity is now inseparable from Bitcoin. It’s almost poetic in a way-if poetry involved risking billions on digital gold. Saylor seems hell-bent on proving his loyalty to crypto, come hell or high water.

Crypto Stocks Take a Beating

But wait, there’s more bad news! Other crypto-related stocks joined the pity party on Tuesday. Galaxy Digital plummeted 10%, Coinbase slid nearly 6%, Robinhood shed over 6%, and even Bullish and Circle couldn’t escape unscathed. Meanwhile, the Nasdaq Composite closed down 1.46%, proving once again that misery loves company.

So here we are: Strategy continues to champion corporate Bitcoin adoption, but with growing distrust among investors and their stock taking hits left and right, Saylor’s bold strategy faces its toughest test yet. Will he emerge victorious or go down swinging? Only time will tell-but I reckon popcorn sales will skyrocket either way. 🍿

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2025-08-20 15:35