Michael Saylor’s bitcoin (BTC) treasury company Strategy has lost 40 years of forecasted dividend coverage in just seven months.
On November 20, the company announced, “At current BTC levels, we have 71 years of dividend coverage assuming the price stays flat.”
However, on Thursday morning, it admitted, “We have 32 years of dividend coverage through our BTC Reserve.” A few hours later, the counter on its homepage ticked down to 31.
Things aren’t going well for Strategy. As of writing time, the company’s common stock, MSTR, is within 7% of its 52-week low and its largest dividend-paying stock, STRC, hit an all-time low today.
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Piling on in the bear market! Blow it all up!
good chance they bought back STRC for 85 cents on the dollar and extended dividend coverage despite deploying cash
So if bitcoin drops another 50% he still has 15 years of dividends? I think he is gonna be okay.
https://twiiit.com/Strategy/status/1991624657221611891