Arthur Hayes: Bitcoin Consolidation Strategy Faces Issuance, Selling, or Dividend Cuts

According to Bitcoin.com News, Arthur Hayes stated that Bitcoin is consolidating around $80,000, and Strategy holds 840,447 bitcoins, requiring approximately $1.5 billion in annual dividends. The enterprise value of Strategy is about 1.01 times mNAV, with the underlying mNAV and diluted mNAV at approximately 0.73 times and 0.74 times, respectively. Arthur Hayes pointed out that Michael Saylor could choose to issue new shares, sell bitcoins, or cut preferred stock dividends, with STRK having a dividend yield of 8% and STRC's yield ranging between 10% and 11.5%.