The Daily FUD Thread: Michael Saylor dumps his MSTR shares

[pawel7777]

https://www.cnbc.com/2024/04/19/bitcoin-bull-michael-saylor-made-370-million-from-microstrategy-sales.html

So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.

[PX-Z]

Was all his talk about accumulating Bitcoin forever and never selling just an act?

It's to hype the community man, to hype.

What do we expect from a business and a businessman. If they just accumulating bitcoin they won't get loss and profit technically that's why they need to sell their holdings in scheduled way to make profit, it's only a matter of when. Probably they done it when bitcoin reach 70k or new ATH.

[robelneo]

So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.

He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future, he might be selling for profit because he sees some dumping that's going to happen, I'm sure he will be buying Bitcoin again at the right time for profit, business and entrepreneurs are like that, they create hype and easily make a quick decision when they see an opportunity for profit.
I'm sure he'll start to accumulate again.

[MrSpasybo]

So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.

We don't have any information about Saylor's purpose for selling MSTR, however the biggest speculation is that he will use the £370M to accumulate more BTC as Saylor is known in the crypto market as a BTC diamond hands. I hope we will have more information soon regarding this when Saylor officially announces the BTC purchase. Unfortunately, we only know the BTC address of MicroStrategy but not the BTC address of Saylor to track and confirm.

Anyway, this should also be seen in a positive light. I don't think Saylor knew anything negative about the BTC price and sold MSTR out of fear that the MSTR price would be affected by future BTC price fluctuations.

[notblox1]

So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.

People care to much about Saylor and what he is doing with Bitcoin.
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.

[Fivestar4everMVP]

So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.

People care to much about Saylor and what he is doing with Bitcoin.
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.

Lolz, you are afraid that one day, they might decide to dump it all on all of us who are small investors, which in effect will drag the price of bitcoin significantly down, forcing the price of bitcoin to possibly go down below our entry points?
Exactly same thing I usually think too, but I guess all we need is for bitcoin to become really big, with tens to hundreds of trillions of dollars in marketcap, and tens to hundreds of trillions of dollars in daily trading volume, when bitcoin have grown to this stage, we possibly will not have to bother or worry about people or companies holding hundreds of thousands of bitcoin again, since even if they sell, the effect on the market won't be significantly felt.

[pawel7777]

(...)
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.

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.

And it doesn't reduce the amount of bitcoins held by Microstrategy, it just changes Microstrategy's ownership structure.

[Stompix]

Why would  this labeled as FUD?
It's a fact, that he asked for approval and issued the shares that were released to the market, there is no doubt or uncertainty in it at all.

MicroStrategy is not a charity Saylor is not Jesus, they both have only one objective getting as much money as they can, if you think they will keep buying and buying and not even one take profit and leaving others to pump money in this you're daydreaming.

He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future,

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.

[hugeblack]

At some point he will sell. In the end, Michael Saylor does not invest in Bitcoin for charitable purposes, but a profit, and when there is an opportunity for a profit that he will take advantage of, so it is natural that he sells his shares if he sees that it has achieved a suitable profit, but why now? It is true that the price has risen well, but it is still far from 100 thousand dollars and there is a good possibility that it will double during the next 12 months, meaning that the time now is not perfect for sale.


Therefore, either he is forced to sell, or there are bills that must be paid, or he wants to use them to buy more bitcoin.

[TomPluz]

Whatever he will do with his money is his own personal business and with that the market should not really care. People like Michael Saylor is in the crypto business to make the most money they can and because of this they should not be regarded like the standing hero for the industry. We know that Michael Saylor has become a very popular figure  for things Bitcoin and he is a big influencer that can practically move the direction of the market if he wants to...so he is therefore a whale whose slight movement left and right can have repercussions in the market. Sadly, this should not have been because Bitcoin is of the people and should stay as such. One big reason Satoshi Nakamoto left on the scene is so that there will be no central figure that may command the direction of the decentralized platform he help invent and yet we heaped on some figure the influence which should not be, in the first place.

[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.

However, Saylor had some really strange thoughts at that time, because although I don't blame him for doubting Bitcoin (few didn't think so in 2013), he thought the same about online gambling. People have been gambling since the beginning of time, and the internet has taken the whole thing to a new level.

[Don Pedro Dinero]

He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future, he might be selling for profit ...

This is inconsistent with what he advocates: borrow against your premium assets, never sell them.

We don't have any information about Saylor's purpose for selling MSTR, however the biggest speculation is that he will use the £370M to accumulate more BTC as Saylor is known in the crypto market as a BTC diamond hands. I hope we will have more information soon regarding this when Saylor officially announces the BTC purchase.

I think that's the only logic I could see to this. Let him sell the shares to buy with the money from the sale bitcoin for himself. But time will tell if you are right.

Why would  this labeled as FUD?
It's a fact, that he asked for approval and issued the shares that were released to the market, there is no doubt or uncertainty in it at all.

Well, in principle it is not FUD because it has not sold bitcoin, it has sold the shares, but the shares of a company that is basically a derivative, leveraged product of bitcoin and where the business intelligence (BI) application software vendor part weighs less and less.

So, if he advocates that with bitcoin you never sell and that you do as the very rich do and instead of selling their assets they borrow against them, this move seems incoherent, unless it is because of the theory mentioned by MrSpasybo.

...
Therefore, either he is forced to sell, or there are bills that must be paid, or he wants to use them to buy more bitcoin.

The same as before, it is inconsistent with what he advocates and it makes no sense that a person who advocates borrowing against your assets would be 'forced' to sell to get

$370 million when his net worth is 10 times higher. He should have no problem borrowing such an amount.

[Stompix]

~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!

Well, in principle it is not FUD because it has not sold bitcoin, it has sold the shares, but the shares of a company that is basically a derivative, leveraged product of bitcoin and where the business intelligence (BI) application software vendor part weighs less and less.

I'm starting to think that FUD should have a different meaning in the crypto world. More like: Things I don't like!
I've seen numerous facts, things that are written in stone, labeled as FUD just because they were bad for the price or were simply bad news as it happens in every sector of the economy.

[Sim_card]

I will do the same if I was him, because those bitcoin that he sold are his profit, and I don't see anything bad in doing that. We are all investing so that someday we can enjoy our investment by taking profit. Or is there anyone who love to pile up his bitcoin and die without taking profit. That is the worst because we need to enjoy from the fruit of our labour.

[MUGNIA]

I think not everyone will hold their BTC permanently for investment, because in every life there will be financial ups and downs, in the case of Michael Saylor releasing his assets, let's just say he was in urgent need of money so he was obliged to sell his assets which quickly made a profit even though there was a slight loss.