BowTiedSats
Posts
May 11 2022

May 11 2022

Sats O'Clock
May 11, 2022

Wake Up! It's Sats O'Clock.

Good morning. It's May 11, 2022.

Bitcoin is hovering around $31K at the time of writing.

El Salvador bought the dip and added 500 Bitcoins to their reserves at an average price of $30,744.

El Salvador buys the bitcoin dip, adding 500 coins to its balance sheet

El Salvador just added another $15.5 million worth of bitcoin to its balance sheet, as the world's most popular cryptocurrency continues its sell-off.

https://www.cnbc.com/2022/05/09/el-salvador-buys-500-bitcoin-as-crypto-market-sell-off-continues.html

Bukele has conviction.

The president of El Salvador also released the Bitcoin City model. Though the markets are bearish, it seems as a very bullish time for the South American country.

El Salvador President Nayib Bukele Released Model Of Bitcoin City

After announcing the purchase of an additional 500 BTC for El Salvador’s balance sheet, the president released images of Bitcoin City.

https://bitcoinmagazine.com/business/el-salvador-president-nayib-bukele-released-model-of-bitcoin-city

On the other hand, Michael Saylor assured investors that MSTR's liquidation price was actually $3500, not $21K as reported by media.

MicroStrategy has a $205M term loan and needs to maintain $410M as collateral. $MSTR has 115,109 BTC that it can pledge. If the price of #BTC falls below $3,562 the company could post some other collateral. See slides 11-12 in Q1 2022 presentation. #HODL
microstrategy.com/en/investor-re…
— Michael Saylor⚡️ (@saylor)
12:01 PM • May 10, 2022

As a flex, he said the company would have no issue posting their 115,000+ Bitcoins as collateral amongst other things.

GBTC investors received paper documents regarding an SEC proposal of the spot Bitcoin ETF. It seems as if it is only a matter of time before Greyscale get their conversion. Saylor also urged investors to let the SEC know.

It took clarity and conviction to set up $GBTC, and now @Grayscale is demonstrating courage and commitment in their campaign to convert GBTC into a Spot #Bitcoin ETF. They deserve your support. If you agree please let the @SECGov know.
— Michael Saylor⚡️ (@saylor)
4:27 PM • May 10, 2022

In the last 24 hrs, over $100M of Bitcoin was liquidated. Be careful what you short.

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