Scott Melker discusses Michael Saylor and Strategy's (MSTR) latest 1,036 bitcoin (BTC-USD), challenging the narrative that the company's bitcoin holdings are underwater. Melker explains why he believes major news outlets are missing the bigger picture when it comes to Strategy's long-term bitcoin investment strategy.
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It never hurts when Michael Saylor steps back in the game and here you go from strategy. Strategy has acquired 1,036 Bitcoin and repurchased 188 million of MSTR as of 11826 we hold 850,000, first time over that number, 364 Bitcoin and 4.9 billion of USD assets. You know that in the old days of this show, we used to have a meme that I showed where we talked about Space Balls and Michael Saylor was Mega Made and he's gone back from blow to suck.
Suck it up all the Bitcoins, not blowing them out, not selling at the bottom. Bought more Bitcoin now, uh, then he's buying necessarily of STRc. It's really, really, really, really good news.
So actually, I, you know, I need to correct myself. It's more than the number, but it was $81 million worth of Bitcoin and still a $188 million worth of STRc. I got a little bit ahead of myself. Now, of course, I see this story as great news, but the story being reported across media for some reason is actually this one.
You can see it. Bitcoin slips below strategy 75,451 cost basis. And I keep seeing stories again that now sailors under water and it's apparently a big problem. This guy has spent, I feel like the majority of his time buying Bitcoin underwater, right? The fact that he just got back above cost basis and skyrocket is slightly below, it's not a story. It's not a story. It doesn't matter what sailor's cost basis is. He's never getting liquidated, he's never getting margin calls unless Bitcoin goes down to 10, 15,
$1,000 and stays there for a few years. So I just uh highly recommend it uh ignoring those kind of headlines. Now,
to fund all this, strategy sold approximately 2.05 million MSTR shares for $283.8 million dollars. So like I said, 81.9 million to fund Bitcoin, 188.3 million funded MSTRc, which is trading right near par on a daily basis once again, and a little bit of that went to the USD Reserve to give them some more optionality into the future.
So, listen, if if Sailor's finding new ways to buy a thousand Bitcoin, still small for him a week, I think uh we can start to have a little more renewed comfort confidence that we will have uh some base buyers back in the market. can only be good news in my mind.
