I'm glad I bought a couple hundred dollars of Bitcoin Treasury companies to remind myself that I'm a shitty investor and should just stick to Bitcoin.
Yes this is cope.
But it works for me.
Discussion
That was me buying MSTR at the exact top and getting what I deserved lol
I too did exactly that. Like $20 off the pico top
I'm confident MSTR will recover.
Not sure about the others though.
In bitcoin terms from the ath?
Hmmmm I didn't sell any bitcoin to buy MSTR but you're right it should be measured in sats. I was thinking about it in USD terms but that's probably not the right denominator.
Assume Bitcoin doubles in price over the next 12 months and the mnav stays at 1.5 (currently 1.38). Assume they also don't sell a heap of preferred equities to stack corn (they will).
Your $500 of Bitcoin becomes $1000 and your $500 MSTR becomes $720. You're MSTR is still down in Bitcoin terms but in profit when measured in fiat.
The 2 key unknown variables are:
- how much bitcoin can MSTR stack without diluting shares
- how high will they let the mnav go before using it to stack more bitcoin
I think they did a disservice to themselves by selling down the mnav straight after saying they'd let it ride to 2.5.
The fixed income play (STRC) could see them double their Bitcoin holdings. This also pumps Bitcoin price (your denominator) but pumps the MSTR price more (because of the mnav multiplier). They haven't really started pushing this STRC product other than their initial release last quarter.
Bitcoin is the safe bet & is a hedge against the everything bubble. I found it really difficult to give a shit about MSTR until I had some skin in the game though. I bought MSTR with a euro loan so I really only need to beat 8% pa plus whatever EUR:USD slippage there is.
I'm not trying to convince anyone, I'm just publically stepping through my logic. I got burnt with the mnav beat down too.
I too dipped my toes into MSTR.
Not big amount… Dec last year.
Will hold them and see.
Maybe when S&P500 listed things might change.
Was more of a “play money” bet… this is as close to gambling I get. 🙂
Yeah I hear you.
I got burnt in 2020 leverage trading. It was worse than gambling because I didn't think of it as gambling.
The MSTR bet feels less of a Degen trade but it still gets the adrenaline going.
I make shitty investments to remind myself that I'm a shitty investor and I still outperform 99% of money managers with this one simple trick.
XXI under the CEP ticker, still pre merger btw, lost me a whopping 2k. And thats BEFORE dilution. Just going to eat the loss like I bought junk.
🫂
Living through the same cope right now lol.
Though I am holding long term. I am still up in btc terms on buying mstr 2 years ago. I will hodl mstr metaplanet.
Same here brother!
Same
With MSTR, at least, the good news is that you're gaining BTC 'yield' per share.
The bad news is that due to the persistent increase in absolute shares, the rate of that 'yield' has naturally been steadily decaying.
The really bad news is that if you bought your shares AFTER the hype-pump a year ago - at the rate that 'yield' is decaying - the BTC per shares that you 'own' will probably never reach the amount of spot BTC you could have just bought instead. (*if you bought shares BEFORE the hype-pump a year ago, you probably got in the pyramid scheme early enough that you'll be fine).