Did Things JUST GET Worse For Michael Saylor?! ($STRC COLLAPSE CONTINUES) | EP 1529

**Opti** (0:02)
Michael Saylor's stretch is collapsing even further this morning. It broke under $83, crashing to its lowest price ever. And to make it worse, Strategy made an interesting tweet last night, implying that they are prepared to sell even more Bitcoin to defend this stretch product. Everyone is wondering, is this the beginning of the death spiral, or are all these rumors and wild theories completely overblown? So I will try my best to make some sense out of all of this for you guys, but I will just start with the price, okay? So I know yesterday, some of you guys are getting mad at me. You're like, Opti's fighting Saylor. You guys are supposed to be doing some signal, and Opti's doing a show alone. It's supposed to be a high signal week. I'm like, yo, look, I know you may be mad. It might seem like I'm fighting Saylor. I'm fighting MicroStrategy right now, but this is the topic at hand, all right guys? So check this out. And I'm not going to do chart boying. I am going to pull up the chart just so you can see it. So here is the decline we've seen in Stretch. This morning, it dropped as low, at least on TradingView, as low as $82.53.
It is currently at 86 So it rebounded a little bit. It's rebounded a little bit. But obviously yesterday, everyone was freaking out because it was in the $90 per share range. Now we had broken way under that. And everyone's wondering, is this blowing up? Is, you know, from the most cynical view of this, is Saylor's Ponzi finally breaking up? Is the digital credit narrative finally collapsing? I will give you my thoughts on this eventually, but let's just start with what I said earlier. The strategy posts, I think they meant to give the market a little more confidence, or rather the investors in the stretch product, more confidence that, hey, we will in fact be able to pay off the stretch dividend. But reading this a certain way, it sounds like he's saying, hey, we can sell all of our Bitcoin if we need to, to protect the stretch cash dividend. Okay, so strategy posted, we have 32 years of dividend coverage through our Bitcoin reserves. Of course, they hold $55 billion in Bitcoin. They only have to pay $1.7 billion in dividends for the stretch product. And essentially Bitcoin only needs to go up 3.1% a year for them to be able to facilitate all of these payments. So like the math portion of this, I don't think it's a math problem. I don't think this is an accounting issue here where they have the cash to pay this off. Even with their latest moves, even if they didn't sell any Bitcoin, they could pay this off for seven months. And this is where the controversy really, I think is what everyone's talking about. But with this tweet alone, look, one of the biggest Bitcoin holders in the world, someone that notoriously, infamously said they would never sell any Bitcoin, is now seeing a couple of problems. This could just be a stress test, as I was saying yesterday. But now they basically said we could sell all of our Bitcoin if we needed to to protect this product. This is the last stand type of tweet. And I know this was probably done with the view that this should make a stretch or MSTR investor feel better about this. Like, hey, look, if the concern is that we can't pay off the stretch dividends, the stretch yield, well, look, look how much Bitcoin we have we can sell. We can sell the Bitcoin and pay this off for 30 plus years. And that is also implying that Bitcoin, the price of Bitcoin doesn't go up.
But put another way, if we are in the peak of a bear market and strategy is implying that they will sell more Bitcoin and we saw what happened when they sold 32 Bitcoin, which was what, $2 million.
They have a billion plus dollars of dividends that they need to pay for. You see where it gets a little tricky. If they do start selling Bitcoin to pay this back, if this is the route that they will go, it's implying that they're going to sell a bunch. Price is going to crash even more. We again, we saw what happened when they sold literally nothing. 32 Bitcoin, it was what, 0.0038% of their Bitcoin holdings wouldn't have even covered the stretch cash dividends or dividend payment. It's like, okay, look, as just a pure Bitcoin holder, as a pure spot Bitcoin guy, like, yo, this doesn't make me feel good. It's like the biggest holders basically saying they're going to dump Bitcoin. It's like, yo, we're in for some pain. And like I said yesterday, you know, again, you guys were yelling at me in the chat. You're like, oh, Opti's out here fighting. I thought we were going to get some signal this week.