Why was MSTR Weak Today? (Patreon)

Sanjay has a theory:

It looks like Saylor is hitting the ATM hard this AM on the heels of the Bitcoin All-Time HIgh breach of $100K.

Clear sign was MSTR down 10% in the first hour of trading.

I would speculate that an announcement this week about the next convertible debt tranche and ATM purchase will exceed everyone's expectations.

Let's figure 100,000 BTC get purchased for approximately $100,000+ each -- about $10B-$11B of capital

$5B from ATM ops.

$5B-$6B from next convertible bond tranche. Except this time the coupon has a negative interest rate of -1.0% and a premium convert of 100%. (there will be a line out the door to buy these.)

This will push MSTR over 500,000 BTC in the treasury.