The MSTR is only going to work until other companies join in the game theory. If Google, Apple, or Microsoft start buying BTC. Why would I ever own MSTR. Once all the other 499 companies start buying BTC. MSTR 3 to 1 multiple will fall hard. Who use MSTR software. I don’t know of a single company that uses there products
Discussion
You are watching the wrong side of the trade. It’s all about sats/shareholder
I understand the trade. I am saying for now he has front runner the Wall Street. However, once the join in the game theory. They have much higher cash balances and it will only take those companies a few quarters to catch up because of their large cash balances. Plus, those companies will not have to issue more shares to acquire the BTC.
You have to consider the multiplier, to get near the size of MSTR they will move the market by one order of magnitude. The cash balance will feel like one order of magnitude lower