pull down to refresh
That may be true (it is though more a statement of faith, than a reasoned argument) but regardless MSTR can definitely drag Bitcoin down lower - even lower perhaps than previous 4 year cycles.
Yes. I used to be all in on it in my tax-advantaged accounts (had no other option for BTC exposure in those) but now a part of me can't wait for it to collapse, because it has to happen and better sooner than later.
Once bitcoin has been flushed of what's been dragging it down, it can rise again, and come out stronger.
It was interesting to watch in 2023 and 2024, but it's clear it can't continue forever. In a world where 90% of BTC supply is held by one entity, I want to hold neither MSTR nor BTC.
Some people are blinded by their faith and won't examine their conviction in light of new data. They will live in denial, and dig their heels in by coming up with increasingly more absurd rationalizations.
I admire those who are able to take a sober look and admit publicly they were wrong.
I think more than one factor is at play here. The strongest is the lack of retail adoption due to aggressive tax policies and the stablecoins placebo. Few have long enough investment horizon and balls to say "fuck you" to the surveilance state.
MSTR is a long call option on Bitcoin. It has decay, as it should, but it also has positive gamma. So when (not if) BTC rebounds, the stock will outperform it again to the upside.