Marc Reader on MicroStrategy

🟧 From a Loyal Shareholder to Michael Saylor – “It’s Time for Transparency.” @saylor

@MSTRTrueNorth @BenWerkman @intocryptoverse

At last I found my sense of humour!

I’ve followed Michael Saylor and MicroStrategy — now “Strategy” — from the early days of his Bitcoin mission. I’ve studied the webinars. I’ve defended the vision. I’ve bought into $BTC, $MSTR and $MSTU, expecting that if Bitcoin goes up, we go up with more of a bang!

And yet, here I am, nursing a recipe that’s turned out… disappointingly flat.

Let me explain.

It started well enough. I watched Michael speak passionately at conferences, outlining the mission: not to sell you his own coin, not to launch a token, but to buy Bitcoin relentlessly on behalf of shareholders. Admirable, I thought. Even… trustworthy. Which, let’s be honest, is a rare quality on Wall Street.

So, I decided to bake a little something. I followed the label exactly on the 3rd of January 2025:

🥄 1 litre of BTC

🥄 600 millilitres of MSTR

🥄 400 millilitres of MSTU

(All kept in the family — very wholesome.)

Whisk until light, white and fluffy, adding just enough flour to bring it to consistancy. Bake for 5 months, keeping an eye on it say each week. I went through elements of positive elation and times where tears streamed down my face!

The packaging promised:

📦 “MSTR delivers 150% the gains of BTC!”

📦 “MSTU supercharges MSTR by 200%!”

Naturally, I skipped straight to dessert.

But alas, my financial soufflé near collapsed, albeit flat on the ($105K) day!

While BTC made higher highs and higher lows, my investment of MSTR & MSTU has made… lower everything. My “Super Maxi” souffle has deflated into something resembling a soggy Yorkshire pudding.

The only thing rising has been the share count.

So now I ask — not as an angry investor, but as someone who genuinely believes in this shared journey: But where is the roadmap for recovery?

When will dilution slow down?

When can shareholders actually catch up?

When will “don’t trust, verify” include on-chain proof? If I’m to believe all the professionals in this field apparently that is a security! But the whole point behind Mr Satoshi Nakamoto was transparency said perhaps we need to find the security gap and resolve it.

Because at the moment, I’m trusting a man wearing a Bitcoin T-shirt while performing the greatest fiat-style financial engineering play the world has ever seen — issuing shares, printing leverage, and scooping up more BTC like a hungry raccoon in a bakery bin.

I still believe in Bitcoin. And I still believe in the Strategy’s strategy, I think. But I also think it’s time you looked the shareholders in the eye and said:

“This is where we pause. This is where you benefit. This is when the cake finally rises.”

Until then, I’ll be here with my whisk and my battered mixing bowl, wondering how I ended up with a 15% BTC return and a 30% drawdown on the products that were meant to double it! Keep happy everyone I’m sure the answer will reveal itself positively perhaps whilst I still have a head of hair!