As more players enter the #Bitcoin treasury play, the arbitrage will erode as demand saturates debt markets.
Considering this arbitrage is what provides benefits to plebs holding $MSTR in their fiat stranded retirement accounts, it seems prudent to consider, over time, a migration to an arrangement where one can hold #Bitcoin outright, like with Unchained.
You make a good point.
MSTR can lose steam to a competitor long-term from someone who shows proof of reserves imo.
We've got a ways: they are only starting to tap a 300 trillion dollar debt market. 😂
Long long term 😅
By then Strategy will have close to 1M BTC.
How much is a company with 1M BTC worth?
After the arbitrage edge is gone, what can they do next?
Answer: Anything they want
Companies are (or should) always be reinventing themselves. Tapping into different pools of capital to acquire bitcoin is just the first phase. I wouldn’t bet against the best capitalized company in the world. Strategy’s best days are ahead imo
There will be multiple winners, but I want to own Apple not Samsung.
I don’t think we’re past the point of Coinbase being failsafe, and if they go down, so does Strategy.
Some will always think Coinbase will rug any day. That aside, they use other custodians. Even if Coinbase goes down and they has 1/3 or 1/2 of the bitcoin there they will still have over 1% of the whole network.
Many need to recognize Coinbase (a US publicly traded company) is not mount gox
The biggest concern is them getting so big the government takes them over. I don’t think that will happen, but I would be more afraid of that than Coinbase pulling a FTX, especially after seeing what will happen if they do.
Exactly what I was thinking. For now things are still good. So much pressure, not so much valves (yet).
