Tyler Crowe

It happens a lot in the finance industry.

It happens in real estate, happens in commodities trading all the time, you know, trading one asset based on value or discount to the other.

What that works, unless to lose point, you're an evangelical who says, I'm never going to sell this because, you know, you say Bitcoin yield, but Bitcoin doesn't yield anything.

The price goes up, the price goes down.

You're going to have to pay cash somewhere.

And that's going to either come from issuing equity or selling your position.

And that's where it gets really complicated here, because unless they're actually willing to be like, yeah, we're just a asset manager, basically, it would make sense.

The point that I think is making it so challenging is it's not just like selling equity or buying down equity.

You start adding in debt, you start adding in dividends.

It becomes a little bit more complicated right now.

I wouldn't say that MicroStrategy is in some huge distress here.

I think they still traded a little bit of a premium to net asset value.

This is according to their website.

How trustworthy that is, I don't know.

That's not something you have to report and the SEC is going to tsk you if you're not doing it completely right.

As of right now, it doesn't look like it's a massive panic moment, but considering the trend that they've seen in the net asset value to their valuation, it would make sense to use that premium price or whatever to kind of shore up the balance sheet at this point.

So again, this is being generous and not thinking that this is the weirdest

Possibly one of the dumber things I think I've seen on Wall Street.

Definitely dumb in hindsight now.

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