might be mstr ATM selling mate, or convertible debt hedge-shorts(?) it's a 1-2 day event, most likely, mate, be prepared for mstr to go back up much higher after today or tomorrow
@johnarb lol not tracking bitcoin anymore? At some point they are going to realize that this will top out, and drop 80%...you think they want to be holding the bag when that happens? It's going to be a game of chicken with the big funds. The dumping of their shares will facilitate the drop that the chart is already projecting...and will allow them to pay off debts and get in again at a lower price. Rinse. Repeat. They will figure out the retail game eventually lol....the are a decade too late, but they'll get there. If they are doing the strategy of buying bitcoin to leverage to buy more bitcoin to leverage to buy more bitcoin etc then they will be in a world of hurt.
That's exactly what I'm getting at. The amount t of debt they are issuing to buy bitcoin is insanity. What happens when bitcoin falls below the purchase prices of bitcoin. There last purchase came at 72k, cost avg now at 42k. When bitcoin plummets below 40k whats going to happen then? No one is questioning any of this until after the fact it happens.
Like I said, this is turning into a game of chicken with the big boys lol...what is their break even when you include the bitcoin they are leveraging to buy more bitcoin which I am assuming they are doing. It can't be all cash purchases.
Its great when everything is jumping and going only 1 way but damn when this trade unwinds it's going to be one for the history books. It works now because of the uprising of bitcoin but literally one collapse in bitcoin and it's over...there is literally too much risk buying shares of this company hoping bitcoin rises forever and ever.
Thank you for the shout out. I'm down on my shorts as you already know but still sticking with them. I was going to short MSTU today but said bitcoin is headed to 100k and left it alone however I see now it would have made for a spectacular trade.
Liquidation threshold is higher than the break even when borrowing. Loan amount / 83.33% = Liquidation threshold...from google for a crypto loan.