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Maybe that's why they didn't report buying very many Bitcoin today as per usual... Could they be saving the firepower for next Monday?

Jason the Original 6mo ago

Maybe. I doubt it though. Feel like his is under the misconception that he wants MSTR and BTC to go up slow and steady and that is better for them.

This is a huge mistake. He should want BTC to rip. MSTR will rip harder and premium will go from 1.7 to 3 or 5 or 10 or 20. Depending on SP500 inclusion explosion and how the market values their P/E. I think the market will look at the P/E the same as they look at other companies P/E now with FASB. Then his ATMs will buy 2 to 10x more bitcoin per dilution share issued.

Stupid to not push hard while he is way ahead of the market. If he does push hard by the time other big players get into the space MSTR will be beyond uncatchable. It will be a paradigm unto itself.

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Discussion

gojiberra 6mo ago

The premium is such a funny thing. It seems to be purely derived mostly from confidence of investors(our confidence ). So if there is the slightest breeze of confidence, it really lowers and then it seems hard to get off the ground again.

Metaplanet has really had great success with keeping it high... Semler not so much. I'm curious to see how the addition of Joe Burnett fuels confidence in Semler.

I' heard something about an MNav of 2 at the end of the growth phase just due to banking stocks trading at 2 of their assets. (I could be misremembering tho).

I have been a little wary of some of these recently because I'm starting to wonder how much of the high MNav is driven by same American investors who are Bitcoin believers doing the exact same thing in each company.

My concern is that the quantity of believers is not really growing organically enough to sustain.

It's like lighting a fire with tinder and slowly feeding it bigger logs.

It does seem like Strategy has the setup to really be a roaring bonfire.

Or maybe if the Bitcoin price rips, each company with Bitcoin treasury will already be a roaring fire and investors will bring their woodpiles to throw in them.