MSTR Is Buying Back STRC. ASST Is Buying 4,045 Bitcoin.

I, I, I love that this is something in Strategy's toolkit.

Like, they need to have this, this buyback facility.

They've got ATM on it, but, you know, there's...

If they want this thing to, you know, dance around that $100 par, they've gotta be, have the optionality of buying this thing back.

What the buy- buybacks have signaled to me is that they got a little over their skis and, and a little too heavy-handed, I think, with the issuance on STRC.

Um, you know, all of this is downstream of Bitcoin's price, but I, but I think, you know, back in April, May, when they were raising billions of dollars, you know, in a, in we- in a week or over two days, they raised over $2 billion, um, once on stretch.

Um, I think they went, went a little too hard on it.

I think they ratcheted up the dividend a little bit too quickly on, on that thing, too.

Um, you know, when, when things were, were really rolling.

And now, um, you know, I'm surprised sitting here today to see that they deployed over a billion dollars, um, you know, back in, into, into these buybacks.

They extended the, the, uh, buyback facility to 3 billion total, um, that they've authorized.

And, and I thought it would get ba- back to par more quickly, but the market's saying, "No, you know, we're not valuing this thing at par.

There's, there's a little bit too much issuance out there in the marketplace." And, and, um, you know, I think Bitcoin just kind of needs it to do its thing before, uh, STRC really gets back on its track and firing on all cylinders.

Yeah.

Yeah, no, I, I think I, I agree with you.

And, uh, here there, there's been a, a, some pushback by some quite big accounts now on X, um, regarding the, the buybacks as well, and some of them are actually even saying that, uh, Strategy should have, um, hiked the STRC dividend rate.

Um, what, what, what do you think about that? Do you think that would be the solution to, to the issue?

I, I don't think, you know, uh, 25 bips or 50 bips, um, makes a heck of a lot of difference.

We're, we're sitting here today, Strategy's trading a little bit under $99.

I don't know what to tell you.

I, I mean, you know, we've had weeks here recently where Strategy's buybacks have been, what, like, 25% of, of the, uh, the volume in the marketplace.

So, um, it, it's taking a lot, a, a lot to get that last dollar.

Like, we, we saw CJ talk about this on, on an interview with, with our, our good friend Chase Palmieri and, and he said, you know, that last one or two bucks is re- really the toughest, uh, row to hoe with the buyback.

So, you know, Strategy is committed to it.

I appreciate that.

I, I, I love that this is something in Strategy's toolkit.

Like, they need to have this, this buyback facility.

They've got ATM on it, but, you know, there's...

If they want this thing to, you know, dance around that $100 par, they've gotta be, have the optionality of buying this thing back.

What the buy- buybacks have signaled to me is that they got a little over their skis and, and a little too heavy-handed, I think, with the issuance on STRC.

Um, you know, all of this is downstream of Bitcoin's price, but I, but I think, you know, back in April, May, when they were raising billions of dollars, you know, in a, in we- in a week or over two days, they raised over $2 billion, um, once on stretch.

Um, I think they went, went a little too hard on it.

I think they ratcheted up the dividend a little bit too quickly on, on that thing, too.

Um, you know, when, when things were, were really rolling.

And now, um, you know, I'm surprised sitting here today to see that they deployed over a billion dollars, um, you know, back in, into, into these buybacks.

They extended the, the, uh, buyback facility to 3 billion total, um, that they've authorized.

And, and I thought it would get ba- back to par more quickly, but the market's saying, "No, you know, we're not valuing this thing at par.

There's, there's a little bit too much issuance out there in the marketplace." And, and, um, you know, I think Bitcoin just kind of needs it to do its thing before, uh, STRC really gets back on its track and firing on all cylinders.

Yeah.

Yeah, no, I, I think I, I agree with you.

And, uh, here there, there's been a, a, some pushback by some quite big accounts now on X, um, regarding the, the buybacks as well, and some of them are actually even saying that, uh, Strategy should have, um, hiked the STRC dividend rate.

Um, what, what, what do you think about that? Do you think that would be the solution to, to the issue?

I, I don't think, you know, uh, 25 bips or 50 bips, um, makes a heck of a lot of difference.

We're, we're sitting here today, Strategy's trading a little bit under $99.

I don't know what to tell you.

I, I mean, you know, we've had weeks here recently where Strategy's buybacks have been, what, like, 25% of, of the, uh, the volume in the marketplace.

So, um, it, it's taking a lot, a, a lot to get that last dollar.

Like, we, we saw CJ talk about this on, on an interview with, with our, our good friend Chase Palmieri and, and he said, you know, that last one or two bucks is re- really the toughest, uh, row to hoe with the buyback.

So, you know, Strategy is committed to it.

I appreciate that.