The Daily FUD Thread: Michael Saylor dumps his MSTR shares

[bbc.reporter]

This is not fud, however, the cryptonews media is starting to create a storyline that Michael Saylor might not anymore be a bitcoin maximalist in his arguments. Also, the Saylor jerkers who ride Saylor's sausage in the community might also be disappointed because it appears that he is admitting that there might be a second best heheheeh.



There Is a Second Best: Bitcoin Bull Michael Saylor Softens on Ethereum

For years, MicroStrategy founder Michael Saylor refrained from acknowledging the existence of such a thing as the “crypto industry.” To him, there was Bitcoin—an asset he likened to the gold of our time—and then thousands of cheap imitators hardly worth mentioning.  

“There is no second best,” the entrepreneur—who may personally own more than one billion dollars worth of BTC—was known to say.

That is, at least, until now.

It appears that the shocking, eleventh-hour approval of spot Ethereum ETFs two weeks ago has caused the Bitcoin maximalist to shift his stance on crypto—or at the very least, to adjust his political calculus.

Now, the Ethereum ETF approval—which some industry analysts suggest means that Ethereum cannot be considered a security—appears to have changed his views on the viability of crypto as an industry bigger than just Bitcoin.

"I think right now the best expectation is [that] the crypto asset class will be legitimized,” Saylor said.

“I think that we are politically much more powerful [when] supported by the entire crypto industry,” Saylor said. “They obviously have a lot of political power, a lot of users.”

Read in full https://decrypt.co/233605/there-is-second-best-bitcoin-bull-michael-saylor-ethereum

[thecodebear]

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.

lol OP why would you care that he sold stock. He sold stock. Not bitcoin. Stock. Not bitcoin. Say it again lol. Him selling stock has nothing to do with him selling bitcoin. He could have sold bitcoin. But he didn't. He sold stock, not bitcoin. He has never said anything about not selling any of his stock. So what exactly are you complaining about? He has these two different assets, one he said he won't sell, and he didn't. The other one he sold.

Nobody cares what he is gonna use that money for. It's his money. And since he got it from selling stocks, not bitcoin, it has nothing whatsoever to do with his statements about not selling bitcoin. Whether he wants to use it to buy a yacht or buy bitcoin or buy nasdaq or buy an island or spend it all on hookers and blow, it's his money and he'll use it however he wants.

[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.

lol OP why would you care that he sold stock. He sold stock. Not bitcoin. Stock. Not bitcoin. Say it again lol. Him selling stock has nothing to do with him selling bitcoin. He could have sold bitcoin. But he didn't. He sold stock, not bitcoin. He has never said anything about not selling any of his stock. So what exactly are you complaining about? He has these two different assets, one he said he won't sell, and he didn't. The other one he sold.

Take a deep breath and calm down lad. I've never said he sold BTC, I said he sold stocks, which are backed by BTC, which is stated in the very post you quoted.
If he held "his" bitcoin through his company, shares of which being largely backed by bitcoins, then unloading part of the stake he held in his company is effectively the same as selling a portion of those bitcoins (which he couldn't sell as a private person himself anyway). It's not a hard concept to grasp.

[Wind_FURY]

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.

lol OP why would you care that he sold stock. He sold stock. Not bitcoin. Stock. Not bitcoin. Say it again lol. Him selling stock has nothing to do with him selling bitcoin. He could have sold bitcoin. But he didn't. He sold stock, not bitcoin. He has never said anything about not selling any of his stock. So what exactly are you complaining about? He has these two different assets, one he said he won't sell, and he didn't. The other one he sold.

Nobody cares what he is gonna use that money for. It's his money. And since he got it from selling stocks, not bitcoin, it has nothing whatsoever to do with his statements about not selling bitcoin. Whether he wants to use it to buy a yacht or buy bitcoin or buy nasdaq or buy an island or spend it all on hookers and blow, it's his money and he'll use it however he wants.

Because OP is concerned that because MicroStrategy stock is a "proxy" for Bitcoin, like the Bitcoin spot ETF, it's like Michael Saylor is selling Bitcoin itself. But what if he starts buying more Bitcoin with the profit from the stock sale, making it surge to $100,000?

🤔

That possibility would obviously add more potential value to MSTR, no?