LibreCharts

2021-06-23 02:58:05 RIP Michael Saylor lol Open / Comment

2021-06-20 09:02:05 Why do you think these guys are always trying to convince you to hold on to your crypto all the time? Is it because they care deeply about you? Or are you just prey to them? Btw this logic is convoluted and asinine. At best. Open / Comment

2021-06-20 08:18:38 Who is 'The Crypto Lark'?

Don't want to hate on this individual but they claimed to be providing a basic suite of services like this (and people pay them for this shit?)

https://twitter.com/TheCryptoLark/status/1399618777600315392?s=20

This is the type of corny shit that will have you sleeping on the street somewhere broke. If someone is publishing substantive work, then they don't need to beat their chest about accomplishing the bare minimum.

If you put up Librehash next to "The Crypto Lark" (is 'lark' a bird?), there wouldn't even be a frame for comparison if this person were a biological son.

Don't even think this Lark person is of the caliber of someone whom Librehash would consider hiring...for a limited, part time role.

Make sure you follow channels like this one & others where the folks that run it actually know what the fuck they're talking about and have the ability to include a slew of informative, relevant information. Open / Comment

2021-06-17 12:28:13 Published on February 8th.

Turns out that this is exactly what happened. #WhyYouFollowtheMostAccurateChannel Open / Comment

2021-06-17 12:27:58 Bitcoin is quickly becoming a short seller's fantasy. You don't even need to be early on the puck with this one either. If I were a rich corporate, I'd keep a lot of cash on the sideline and be ready to borrow Bitcoin and buy the fuck out of futures contracts the second the building starts to sway Open / Comment

2021-06-12 10:27:36 We won't go through the rest of the ratings here folks (join the Discord) ; we're going to call it a day on that one.

But for those that are following, you can now say that you have a pretty thorough overview of where things stand as far as Michael Saylor and MicroStrategy (congratulations, friends.

As always, we're going to try to dig down to the very fucking depths of an issue to get to the truth (if possible). Open / Comment

2021-06-12 10:26:35 More Information on That Rating Here in Investopedia (always coming in clutch for us) - https://www.investopedia.com/terms/b/b3-b.asp

"B3/B- refers to the letter grades ratings agencies assign to companies, issuers, and securities that are considered speculative and carry a greater degree of risk than investment grade bonds. In the world of junk bonds, a B3/B- rating is about as low of a rating as most investors will accept."

So... you probably don't need me stating this - but, not good. But hey, if Bitcoin hits $100k, they could really turn things around (assuming they don't sit here and leverage up way more debt in the meantime).

Moody's essentially made it clear they'd downgrade them further if they piled on anymore debt beyond this point (so this could be it for MS for a little while) Open / Comment

2021-06-12 10:24:13 Moody's Initial Report on MicroStrategy Senior Secured Loans We'll start with the ratings: 1. Corporate Family Rating = B3 2. Probability of Default Rating = B3-PD 3. Speculative Grade Liquidity Rating = SGL-2 4. Senior Secured Regular Bond/Debenture… Open / Comment

2021-06-12 10:20:54 Moody's Initial Report on MicroStrategy Senior Secured Loans

We'll start with the ratings:

1. Corporate Family Rating = B3

2. Probability of Default Rating = B3-PD

3. Speculative Grade Liquidity Rating = SGL-2

4. Senior Secured Regular Bond/Debenture = Ba3 (LGD1)

Here's the Link to the Moody's Press Release Explaining the Ratings = https://www.moodys.com/research/Moodys-assigns-B3-CFR-to-MicroStrategy-outlook-stable--PR_448144

Starting out the gate, "The B3 CFR reflects MicroStrategy's very high financial leverage, small scale relative to competing data analytics software providers and expectations for modest organic growth in the low single digit percent range. MicroStrategy, which generated revenues of about $492 million in the LTM period ended March 31, 2021, will have Moody's adjusted gross leverage well in excess of 20x (Moody's treats stock-based compensation as an expense) pro forma for the proposed transaction."

Not quite so positive out the gate.

Moody's does go on to note that MicroStrategy was able to acquire the $1.6B+ in additional capital (via convertible notes) with little to no upfront cost to them (i.e., interest rates), which is a big bonus for them (lowers the hell out of their overall potential risk vs. what it could otherwise be).

"The Ba3 rating on MicroStrategy's senior secured notes reflects the company's B3-PD probability of default rating, their senior secured nature and position in the capital structure relative to the outstanding $650 million and $1.05 billion convertible notes due in 2025 and 2027, respectively. The senior secured notes are expected to have a maturity of 7 years with springing maturity 91 days inside the existing 2025 and 2027 convertible notes maturities if MicroStrategy does not have liquidity in a specified amount at such a time." Open / Comment

2021-06-12 10:10:38 Relevant SEC Filings & Associated Information Contained Within 1. Form 8-K (June 8th, 2021) - Announcing $500M total raised from the junk bond offering. "The Company estimates that the net proceeds of the offering will be approximately $488 million, after… Open / Comment