The Daily FUD Thread: Michael Saylor dumps his MSTR shares

[Stompix]

I will do the same if I was him, because those bitcoin that he sold are his profit,

He hasn't sold bitcoins he sold shares in Microstrategy, it's even in the title!

he was obliged to sell his assets which quickly made a profit even though there was a slight loss.

There was no loss whatsoever, he had those shares since he founded the company, but let's ignore that how can you make a quick profit selling at a loss?
Common, how does this make sense?

[Lucius]

~snip~
If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.

If by some chance he had coffee with Tim Draper and listened to what he thought about BTC at that time, he might have bought at that price. I think Draper bought those 30 000 BTC exactly at the price of $600 per BTC.

I was curious about that but yeah, Draper bought at $600.
About Saylor's decision, I'm not that surprised, most people who are in business and like to talk as much as he does are not good listeners at all, I'm still on the opinion that the only thing that convinced him about Bitcoin was the smell of money!

That information is something I remembered, although many years later I found out that he used those same BTC as an investment in some kind of project whose name I can't remember now. Therefore, the question is whether that investment paid off for him in the end, as it would have paid off if he had just kept them for a few years, given that in 2014 he publicly stated (and guessed) that the price of BTC would reach at least $10 000 in three years.

Yes, there should be no doubt that the smell of money was stronger than the strongest doubt about whether Bitcoin is something good or bad. So far, his decision seems to be a superb business move that many people are probably envious of.

[philipma1957]

This really a misguided click bait title.

But it has attracted replies from a lot of us.

I would not worry about a huge coin dump at the moment as I think he believes he can get over 100k a coin very soon. 🔜 Maybe by my birthday in Jan of 2025.

[Gladitorcomeback]

He made a mistake and had to face a situation of a lifetime. When you are trading in the futures market, you need to make sure that you have all the risk-management measures set and have your stop-loss and stuff all set because the market is highly unpredictable and volatile and anything can happen at any time, so you can't be so confident to not set a stop-loss and go to bed with so much risk.

I'm pretty sure he didn't do any analysis as well because if he had done so, he would surely set a stop-loss before going to bed because doing analysis makes one realize or at least have an idea that the market is going to go up or down and they can make their decisions accordingly.

[Lucius]

~snip~
I would not worry about a huge coin dump at the moment as I think he believes he can get over 100k a coin very soon. 🔜 Maybe by my birthday in Jan of 2025.

We have already clarified that this is not about Saylor selling BTC, but company shares - but even if he had sold coins, it would not have had any major impact on the market. I think that Saylor would sell any amount of BTC at this moment only if he found himself in a situation where he could not get the funds he urgently needs in any other way - but given that he knows very well that we are in a time when the price very likely to go up, selling really wouldn't make any sense.

I have nothing against BTC honoring you with $100k per coin for your birthday

[Don Pedro Dinero]

He made a mistake and had to face a situation of a lifetime. When you are trading in the futures market, you need to make sure that you have all the risk-management measures set and have your stop-loss and stuff all set because the market is highly unpredictable and volatile and anything can happen at any time, so you can't be so confident to not set a stop-loss and go to bed with so much risk.

I'm pretty sure he didn't do any analysis as well because if he had done so, he would surely set a stop-loss before going to bed because doing analysis makes one realize or at least have an idea that the market is going to go up or down and they can make their decisions accordingly.

I don't know where you get this from, as it seems to me to be totally invented. Where do you get that Saylor was trading futures? He is a long-term investor who has been repeating that assets like bitcoin have to be acquired and kept for life, at best borrowing against them, so we are surprised that he has sold. Nothing could be further from futures trading.

[notblox1]

100% true and I'm not making judgements on the guy. He's free to do whatever he wants with his money, and sometimes you have to cash out, to pay bills/taxes, make purchases etc.
But for someone who has been preaching so hard against selling bitcoins and (if my memory is not mistaking me) even publicly suggesting taking loans to acquire bitcoins, selling such large amounts of bitcoin-tied-stocks, can be viewed as dishonest.

This only hurts bitcoin meme people and nobody else
Following what Saylor or someone else is doing should not be important to us, and I think he was never honest Bitcoin supporter.
Always remember that he was against bitcoin for years and he was always interested only in profit, that didnt change.
Real enemy of Bitcoin is centralization and companies owning most of the coins.

[Captain Corporate]

Is this real news? Like do we have proof that he sold a lot of shares? I mean they have a lot more bitcoins than what he sold, so there isn't really anything crazy about it, but looking at this makes it questionable to invest into his company. Think about it, why would you want to invest into a company that even the owner sells his shares? Of course if he provided something better, like he sold it to someone who could help, then maybe things change, but right now it looks like we are talking about a situation that's not going to be easy to handle at all, its going to look bad to everyone for sure.

[pawel7777]

Is this real news? Like do we have proof that he sold a lot of shares? I mean they have a lot more bitcoins than what he sold, so there isn't really anything crazy about it, but looking at this makes it questionable to invest into his company. Think about it, why would you want to invest into a company that even the owner sells his shares? Of course if he provided something better, like he sold it to someone who could help, then maybe things change, but right now it looks like we are talking about a situation that's not going to be easy to handle at all, its going to look bad to everyone for sure.

The amount of bitcoins held by Microstrategy has not changed and was not affected by that sale, so yeah, it's literally just some portion of the company shares changing their owner.
As for Saylor, he sold about ~15% of his holdings and I have no clue if that class of shares has any voting rights at all etc. Nevertheless, he still owns a lot.

[Stompix]

Is this real news? Like do we have proof that he sold a lot of shares?

Yes we have and it has been known for a quarter he will sell those:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1050446/000095017023057418/mstr-20230930.htm

On September 19, 2023, Michael J. Saylor, the Chairman of our Board of Directors and our Executive Chairman, entered into a 10b5-1 trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act with respect to the sale of up to 400,000 shares of our Class A common stock underlying a vested stock option, which expires if unexercised on April 30, 2024.

This was November last year!

https://www.sec.gov/Archives/edgar/data/1050446/000095017024045551/xslF345X03/ownership.xml
From Saylor himself and MSRT lawyer last week.

[philipma1957]

This is not much of a thread op should get it locked.

[NotATether]

If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.

Well I mean, his company is holding like 200k BTC now, which is worth, what, $20 billion by now?

Anyway, it's kinda ironic that both Bitcoin and online gambling are doing very well, especially since the pandemic. Source: go to Bitcointalk => Gambling and count how many casinos and sportsbooks made topics there in the past 5-10 years. And that's just counting the crypto bookies. There are probably a lot more when we count the fiat bookies as well.

[Don Pedro Dinero]

I read today that there are many billionaires who have sold shares recently, like Jeff Bezos, for example, who for a while was known for not selling any shares. Saylor's sale fits into this context, then. I don't know if they smell a market ceiling and are selling now because of it.

[philipma1957]

If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.

Well I mean, his company is holding like 200k BTC now, which is worth, what, $20 billion by now?

Anyway, it's kinda ironic that both Bitcoin and online gambling are doing very well, especially since the pandemic. Source: go to Bitcointalk => Gambling and count how many casinos and sportsbooks made topics there in the past 5-10 years. And that's just counting the crypto bookies. There are probably a lot more when we count the fiat bookies as well.
[/quote
My state New Jersey USA has a treemendous online casino structure set up for people to use. Established casinos allow you to tap your ass out over your phone .

[TopT3ns]

I read today that there are many billionaires who have sold shares recently, like Jeff Bezos, for example, who for a while was known for not selling any shares. Saylor's sale fits into this context, then. I don't know if they smell a market ceiling and are selling now because of it.

It's possible that Jeff Bezos knows something that ultimately makes him prefer to secure the assets he owns by selling his shares. Market conditions don't seem to be good because the world economy is collapsing and many wars are starting to occur.