This is so sad and disgusting!! Saylor was selling this crap to retired military and retail. He prom…
This is so sad and disgusting!! Saylor was selling this crap to retired military and retail. He promised "forever" dividends. How????? What he didn't tell people is that there is no obligation to pay. NONE are collateralized by BTC. There is no maturity. All are subordinate to debt which also isn't collateralized by BTC...nothing is. Makes me so sad for people who didn't read the disclosures. These are not quite a year old some like STRC less. Par is 100. He's only got 6 months of dividends left. People putting in 100 or even 70 depending on price of preferreds could lose it all, because no maturity !! This is a hard lesson. When someone offers you yield 2 times fed funds rate....it's worse than Junk. If he suspends the dividend it's over, so what does he sell to support it? The common stock..he's been doing that through ATM. BTC is really his only other option he's got 1.7 billion in annual dividend obligations and close to 7 billion in debt with put dates in 2027, huge amount in 2028 and 2029. What a nightmare Please do your DD. People have lost more than the yield in the instrument alone. Not advice just my opinion.
