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Thread topics include, but are not limited to: Discussion related to recent events Technical analysis, trading ideas & strategies General questions about altcoins Thread guidelines: Be excellent to each other. All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading. This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning. No discussion about specific ICOs. Established coins only. If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too. ⚡Tip Fellow Redditors over the Lightning Network⚡ Send sats as tips using lntipbot to show appreciation for good content. Instructions and more information. Other ways to interact: Get an invite to live chat on our Slack group and check out the #altcoins channel Daily Discussion for bitcoin only: Daily Discussion Prior Altcoin Discussion: Altcoin Discussion submitted by /u/AutoModerator [link] [comments]

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Guys I’m a big BTC guy, thanks to Bitcoin I have purchased a house for my family. I still hold , self custody , full coiner. But instead of buying this bear market ( my original plan) I honestly feel there is more gains to be made now in AI and Space stocks. It’s not a knock against BTC or anything. But it’s insane right now. For example, one trade I made. I bought 1 BTC in November 2023 for around 40k. Sold at 110k. Very nice gains, nearly 3x. I also bought Planet Labs stock (unfortunately not very much). Forget about 3 or 4x, that planet labs stock is up 32x. lol. What do you guys think? This is just one basic example submitted by /u/UpstairsAide3058 [link] [comments]

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Hi all There were a few comments in the daily about MSTR and STRC. I had the day off today and the comments prompted me to look into how those two are going for the first time in a long time. From what I can see, MSTR is in a pretty precarious position right now. I am not convinced it will collapse or fail, but I do think it is in a position where it will need to sell BTC at a loss for at least a year. Interested in understanding whether there is something I'm missing / what others think of this. If I'm not missing anything, I think this implies that BTC price will be suppressed by MSTR selling for some time. If net sales over a long period of time destroy investor confidence in MSTR, it could also affect MSTR, but I think this is unlikely to be an issue for a long, long time, due to the sheer amount of BTC MSTR has on its balance sheet. Background MSTR trades at a premium to its BTC holdings. That is expressed in its MNAV. As long as MSTR's MNAV is above its NAV, it can issue MSTR shares in a way that is net BTC accretive to existing shareholders. In other words, as long as MNAV is above NAV, MSTR can issue more shares and not expect its shares to tank in price (because people who hold it hold it for the BTC holdings, and, in theory, if shares are being issued but that increases BTC holdings per share, shareholders should be comfortable continuining to hold even if it is theoretically a dilution). When MNAV is at or below NAV, MSTR issuing shares will cause MSTR price to drop. MSTR has a number of ATMs available to it which allow it to raise additional capital to buy BTC. These are STRC, STRF, STRK, STRD, and STRE (yes STRE isn't an ATM by technical definitions but it functions like one in practice so I am including it here for simplicity). These all work slightly differently, but in essence the idea is that when the ATMs are trading at or above par MSTR can issue more to raise capital. When the ATMs are trading below par, either MSTR will increase yield to entice more buyers (STRC) or the implied yield will increase and attract new buyers, assuming that new buyers believe the yield will be paid out (STRF, STRK, STRD, STRE). MSTR has dividend obligations in respect of the ATMs. Historically, these obligations have been funded by issuing more MSTR or ATMs, and/or using the cash reserve to pay it. Recently, MSTR sold a very small BTC position to fund the divided obligations too. Situation MSTRs cash reserve is around $900 m USD, give or take, down from $2.25 billion USD, give or take. MSTR has spent this year trading with an MNAV at or below its NAV. That means MSTR cannot practically issue more MSTR to raise cash. All of MSTR's ATMs are trading significantly below par. This means MSTR cannot sell ATMs to raise cash. Theoretically, it could start selling ATMs at or below spot price, but this would be against the terms of some of these products, and, more importantly, it would massively increase implied yield and destroy confidence in the products (i.e., it would kill these ATMs off permanently). It could also increase yield on STRC to bring price back to par, and then issue more STRC, but that would increase dividend payments and would put a lot more pressure on the business long-term (because STRC is perpetual and it has a ratcheting mechanism that makes it difficult for MSTR to lower dividend rate quickly). MSTR (by my math) has an estimated annual dividend obligation of around $1.5 billionish (i.e., more than it has on hand in cash) with a blended cost of capital of around 10% to 12% per annum. Problem MSTR does not have enough cash on hand to fund this year's dividend payments. If MSTR cannot sell MSTR to fund the gap and it cannot sell ATMs, MSTR has to sell BTC. This is bad for us (BTC hodlers) for obvious reasons. MSTR has a massive resevoir of BTC and can afford to sell for a long, long time. The longer it sells at volume, the longer BTC price will be suppressed. More importantly, this is also bad for MSTR. MSTRs stock price is closely tied to BTC spot. MSTR sells BTC > BTC goes down > MSTR MNAV is crushed > investor confidence in MSTR ability to pay dividends goes down > ATM implied yields go up > MSTR sells BTC to cover yields > etc. Therefore, the more MSTR sells, the more it has to rely on selling to fund future dividends. This could become a perpetually fulfilling feedback loop. MSTR could be saved if BTC rallies so hard it is able to rally up and through MSTR's selling pressure. If that happened MNAV would be restored which would give MSTR more options for raising capital. I think this is a possibility but it might be a few years until that happens. Anyways, long post and a bit rambly but I hadn't quite realised the position MSTR was in until I spent today looking through everything. Very happy for others to correct me if any of my information is wrong, etc. Just want to start the conversation as I haven't really seen anyone working through all the maths so far. submitted by /u/DynamicBeige [link] [comments]

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