Travis Kling

“It’s actually comically straightforward. Sell however many billions of $ of BTC necessary ASAP to take out all the converts and the prefs (yes Saylor can do things near-term that are damaging to these instruments so he can buy them back cheaper; that’s a separate topic). Do the sale in one huge chunk. There are DEF huge buyers of BTC down 20-30% (just guessing where it would get done). Flatten the entire cap structure. No debt no converts no prefs (makes total sense for a business that quite literally does nothing). Then Saylor goes on a media campaign swearing up and down to Satoshi that he is NEVER going to do ANYTHING again. Nothing. Ever. Won’t buy another dollar of BTC. Won’t sell another dollar. Never touch the cap structure again. MSTR will just hold however much BTC they have left after selling a lot to clean up the cap structure. This would pop BTC hard immediately (which is part of the reason you know the BTC sale deal would get done) . And over time, if Saylor does NOTHING, the market will eventually derisk him and his foolishness. And BTC can head much higher (still a big quantum problem and a paper Bitcoin problem but those are separate topics). This is the NO BRAINER right decision for Saylor to make. Right decision for MSTR (which I don’t care about at all) and right decision for BTC (which I care about a lot). I don’t think Saylor will do this though. And I honestly think the main reason he won’t do what is obviously needed is cocaine.”