Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 26 years of covering Asia Pacific equities, the past 20 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Strategy (MSTR US)'s Bitcoin Premium Evaporates. And Then Some

MicroStrategy (MSTR US): A Monetary Good Or Emperor's New Clothes?

MicroStrategy (MSTR US): It's Cratering Time

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/strategy-inc" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Strategy (MSTR US)</a></strong> has conditioned shareholders that everything is groovy; provided its market cap exceeds its bitcoin holdings. That's no longer valid.</li>
<li>The board's narrative has now shifted from "<em>never sell BTC, reserves alone will cover us</em>", to an explicit formalised capital framework treating bitcoin as a monetisable backstop for dividend/interest obligations.</li>
<li>Tellingly (ominously?), Strategy sold 3,588 bitcoins late June/early July, its largest sale ever, at a weighted average of $60,197/bitcoin, below its $75,476/bitcoin average in-cost.</li>
</ul>



Strategy (MSTR US) has conditioned shareholders that everything is groovy; provided its market cap exceeds its bitcoin holdings. That's no longer valid.
The board's narrative has now shifted from "never sell BTC, reserves alone will cover us", to an explicit formalised capital framework treating bitcoin as a monetisable backstop for dividend/interest obligations.
Tellingly (ominously?), Strategy sold 3,588 bitcoins late June/early July, its largest sale ever, at a weighted average of $60,197/bitcoin, below its $75,476/bitcoin average in-cost.


Strategy (MSTR US)'s "Strategy" Unravels. What A Surprise. Not