Hey
@saylor Berkshire Hathaway closed Oct 16 at $798,000 for Class A and $532 for Class B. The A shares have never been split. The B shares are the liquid trading vehicle. One A converts one-way into 1,500 B shares; B cannot convert back. Voting is disproportionately concentrated in A.
Strategy can do the same with three classes.
Leave existing Class A (the public MSTR shares) static. No further issuance. No splits. One-way conversion only into the new "C"class.
Leave existing Class B (the super-voting shares) completely untouched.
Create a new Class C at 1/5 to 1/10 the economic claim of Class A. All future ATMs, employee equity, and capital raises happen only in Class C. When Class C runs up, split only Class C.
Class A becomes the scarce, sticky instrument that long-term holders can keep forever. Class C absorbs the trading, the options market, and any future dilution. The precedent is Berkshire. The difference is that one class is permanently protected from further share-count inflation while the other is designed to be split and issued as needed.
grainofsaltsf.com/analysis/b…
@BritishHodl $MSTR @phongle