Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Michael Saylor finds himself once again in the crosshairs of Twitter’s crypto users after new regulatory reports revealed that Strategy (formerly known as MicroStrategy) recently spent 27 million dollars as a payment for a corporate jet.
These disclosures have sparked a wave of criticism from users who argue that the purchase reflects the wrong priorities during a period of high volatility for Bitcoin and Strategy stocks.
Sponsored
Sponsored
Shareholders question the priorities of the spending strategy
According to MicroStrategy’s 10Q form Al-Muqadam On November 3, net cash used in investing activities increased sharply year over year.
The report showed that during the nine months ending September 30, Strategic paid $27 million as a down payment for a new plane belonging to the company.
Purchases worth $19.38 billion were also revealed In Bitcoin Funded through convertible warrants, equity offerings via the STR Series, and ongoing ATM programs.
Although companies generally use institutional funds for executive travel, critics have argued that context is particularly important for Strategic.
The company no longer looks like a traditional software company, but acts as a vehicle Linked to Bitcoin price changes Proteus.
Sponsored
Sponsored
with MSTR down 30% In the past month, some investors have questioned whether a multimillion-dollar plane is in line with the company’s Bitcoin-centric strategy.
Investor confidence is at stake
In response, cryptocurrency Twitter users argued that capital from shareholders should focus on increasing the company’s position in Bitcoin Instead of expanding executive privileges.
Users expressed frustration that the payment for the plane came alongside billions of dollars in funding directly related to new equity issues. Others suggested the timing of the purchase weakened confidence in the company’s alignment with its retail investor base.
Strategic proponents emphasized that commercial aircraft are popular among companies that operate around the world and require significant executive travel. They also noted that the $27 million payment represents… A small share of capital Allocated to accumulate Bitcoin during the same period of nine months.
The dispute still reflects a broader disagreement over how to balance A public company focused on Bitcoin Between their operational needs and general appearance.
As Bitcoin continues to fluctuate, the incident shed light on how close the decisions are Sayler of market sentiment, particularly during periods of high volatility.
The discussion also revealed how investors’ expectations change when a company positions itself almost entirely around a macroeconomic sensitive asset.
