I keep seeing people try to predict what the MSTR premium over NAV “should” be, as a valuation question.

However, the answer doesn’t truly exist, because it’s recursive. The current state of it is an input back to itself. It’s arbitraged, in other words. As long as there is a sizable premium, MSTR will continue issuing securities until demand is saturated for a period of time.

A high premium tells MSTR to keep issuing more securities, which in the long arc of time pushes the premium back down. A low premium tells MSTR to slow down or halt security issuance until a premium re-emerges.

And gm.

Facebook And Instagram Down: Here’s What We Know About Widespread Outages

I think one of my posts using Damus is in nostr limbo. I thought it went through and now I can’t find it.

Good afternoon 🫂

It’s so good! Couldn’t put it down - feeling tired today 🥹

GM Nostr! 🌞

GM earthlings and things

Goodnight 🫂

Reading some Sherlock, then sleep

GM #plebchain

In the end, I want a simple life. I live in the mountains where I grow and cull what I eat. I live off of the land with the few closest to me whom I love dearly.

That is all.

We don't need much to be free and happy.

gm ☀️✌️☕️

GM Nostr

Woke up this morning, power went out almost immediately.

Me wishing I’d had the gas fire on all night because now I can’t turn it on. Cold af right now 😆😅

GM!

GOOD MORNING

gm ☀️☕️

Gm! My advice for today is that I don’t have advice. You’re a grown person, make your own decisions. 🤣