The ‘never sell’ preacher is back to his old tricks. After exactly ONE WEEK of pretending to be a bitcoin buyer again, Michael Saylor’s Strategy just skipped its weekly BTC purchase to blow $176.3 million on its own preferred stock instead.
That’s not a rumor. That’s the SEC filing from Tuesday: Strategy repurchased 1.8 million STRC shares for $176.3 million between Aug. 31 and Sept. 7 — and on the same day, it doubled its Digital Credit Securities Repurchase Program to $2 billion. Bitcoin holdings? Stuck at 845,050 BTC. Zero new coins. Not one.
Last week was supposed to be the comeback. Strategy made its first BTC purchase since mid-June — a $370 million buy, 4,603 coins at around $80,300 a pop. The plebs cheered. The ‘he’s back’ headlines wrote themselves. SAYLOR IS ‘BACK’ AT $79,000.
One week later: no buy. Instead, the man who built a cult around ‘never sell, never stop stacking’ spent $176 million buying back his own stock. This is the same company that dumped 7,000 bitcoin into the crash to pay a dividend. The same company whose June 29 ‘capital framework’ literally authorizes selling bitcoin to fund dividends. The same ‘never sell’ prophet who built a $6.7 billion fiat fortress while you were holding the bags.
Here’s the part nobody wants to say out loud: STRC trades at $97.70 — 2.3% BELOW its $100 par value. That means Saylor’s favorite money-printing machine is broken. You can’t raise fresh funds by selling preferred stock at a discount. And that 12% annual dividend? It still has to be paid. In cash. Or in bitcoin. Guess which one he keeps choosing.
And while the ‘largest corporate bitcoin treasury’ plays Wall Street games, the actual buyers showed up: Strive scooped up 1,375 bitcoin for $109 million at an average of $79,281. France’s Capital B dropped another $25 million on Monday. The real stacking is happening everywhere except on Saylor’s balance sheet.
If you want the ‘bitcoin only’ sermon turned into reality, don’t wait for the man who preaches it. Buy the real thing at Bull Bitcoin and use coupon LOVEISBITCOIN. Your keys. Your coins. No preferred-stock shell games, no 12% dividend demanding your stack be sold.
So here’s the question: if the world’s biggest ‘bitcoin treasury’ needs a 12% dividend paid in fiat and a $2 billion stock-buyback program to survive, who exactly is the weak hand now — him, or you?
SAYLOR'S BITCOIN COMEBACK LASTED EXACTLY ONE WEEK - HE SKIPPED THE BUY TO SPEND $176 MILLION ON HIS OWN STOCK
