Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Didn't AM already convert their Bitcoin hodlings to fiat - we're already winning 
Where has FC ever said that AM has converted its bitcoin holdings to fiat?
Lol, how do you think they pay for mask and chips? Do you think the fabs and data centres take bitcoin or something?
In this context, holdings refers to the capital they still hold... not to what was used up on expenses like chip fabrication. Clearly they would have paid for those types of expenses in fiat, but I see no reason to believe that the rest of the bitcoin that AM may have mined/earned was converted to fiat, as xhomerx10 suggested.
Unless FC sold it all off to hide the company's holdings/how big of a batch gen 4 will be and then buy back in to both make profits for shareholders and bring the BTC price back up in tandem. Everyone here seems to be overlooking the fact that friedcat has more than enough BTC to have brought the markets down to their current prices. Because he could've sold off to cascade margin calls and cause more selloffs, the company could profit from manipulating the markets this way.