The question is going to be whether they gun for Saylor. What if that 500M he raised is to protect his share price? Everyone assumes it’s for BTC but if BTC price gets dumped hard they’re gunna short his stock into the ground and he has a duty to shareholders, not just his Bitcoin fantasy…….
Im going to play devils advocate. 600m senior secured notes raised due by 2028 at 6.128%. Do you think btc wont perform at 6.128% a year by 2028? I expect hedge funds to load up at a nice premium via MSTR.
In my world "the main players" in crypto are institutions, mostly hedge funds. This part of Theoaks post makes me think maybe hedge funds might be working with Saylor and not gunning for him.
Hedge funds have very little to gain now by being directly involved in crypto, so what's the next best thing for them. Exactly what Theoak said.
Looking back at the 13F filings for the previous quarter I'd say the hedge funds where pretty bullish on MSTR. The next set of filings could tell us a lot about which way the market goes. Might be too late by then though, but it least we'll know a bit more going fowards.
Just to add, I keep making jokes about Saylor buying at the top market. Remember May 12th. Saylor bought a bunch of Bitcoin at the top and then Elon tweeted about Tesla exiting the market because of environmental concerns. Bitcoin took a massive dump supposedly because of Elon tweets, but guess what was due to happen on the 13th May.
One of the biggest hedgefunds in the world was due to take a liquidity stress test and they were told a week earlier that they could no longer use crypto for liquidity. If they had substantial crypto holdings they had a week to move it. Coincidence there was a huge sell off the day before their liquidity test and right after Saylor was done pumping BTC ?
It wasn't Elon that caused that crash, it was a hedge fund! (Musk was just used to provide a smokescreen for the crash) The timeline of it all makes a damn good case to suggest Saylor, Elon and the hedgefunds are working together to manipulate the market.
Also remember the 4chan "insider" posts who knew the exact time and date (probably just a guy at the hedge fund who knew about the sell off and wanted to have fun trolling 4chan) and people saying the sell off actually started just before Elons tweet. Getting tin foily now, but fuck it all lines up!