On: The Rise and Future Fall of MicroStrategy

[qeternity]

Because MSTR has two legs to the trade: BTC returns + NAV premium/discount.

It is a better trade if the premium continues to rally. Otherwise it’s a worse trade.

[steveBK123 → qeternity]

So overpaying vs NAV because in hope the next greater fool with overpay NAV by even more. Nice.

[TZubiri → qeternity]

I think some boomers would prefer to invest in a company which holds btc, or fund, and pay a premium not to touch it directly.

Premium goes to techies and lawyers and stuff.

[qeternity → TZubiri]

There are numerous ETFs which hold BTC. This is not why money is flowing in to MSTR.

[steveBK123 → TZubiri]

Overpaying because you expect less savvy people to overpay you more when you exit is not a sound investment thesis.

[TZubiri → steveBK123]

Not less savvy, more savvy.

Boomer does not know about bitcoin wallets.

Engineer at MicroStrategy does.