Post #3609584

Fortress HODL is collapsing (from Alphaville): "[Strategy's rescue plan involves] a $1bn common stock buyback, and a “BTC Monetization Program” under which the board has authorised management to sell bitcoin for three purposes: to replenish the cash reserve up to $1.25bn; to fund preferred dividends and interest if “more advantageous” than issuing equity; and to fund the repurchases of preferred stock or equity." (Micro)Strategy has likely been _the_ whale propping up Bitcoin price. It's going to be fun ride when they start selling. The name of that ride is Doom Loop.