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Replying to Avatar Kirk

I'm really not a fan of MSTR getting these kinds of passive flows.

Within bitcoin we rightly view yield with a mixture of suspicion and contempt, often saying things like "you are the yield".

MSTR stock has a perpetual gravity that pushes the stock price back to the value of their bitcoin treasury. The way Saylor generates his "BTC yield" is from indiscriminate buyers who pile in at multiples to MSTR's underlying bitcoin holdings. They are the ones being harvested.

Having retail investors passively and indiscriminately buying this thing every month makes them easy to harvest. Being charitable, MSTR is a strategic trading vehicle and shouldn't be treated as something you just allocate to the same way you DCA bitcoin.

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PiecoverBTC 9mo ago

MSTR is a Saylor sh*tcoin. Just bc it goes up in value relative to bitcoin in a certain period of time that doesn't mean this will keep happening.

There is no Bitcoin yield holding MSTR, you only get a fiat paper gain, if fiat hyper-inflates MSTR goes to infinite fiat which is infinte zero.

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