Look, I do know I’m late to the celebration.
I keep in mind masking the information of MicroStrategy’s first bitcoin buy, and I’ve watched the inventory rise from $14 to $400 per share. All that point, I didn’t purchase.
But, this previous Friday, for the primary time since 2018, I purchased shares — particularly MicroStrategy (MSTR) and a pair different corporations additionally holding bitcoin on their stability sheets. It was one thing I by no means thought I’d do once more.
In 2018, I offered all my shares for extra bitcoin when the value crashed into the $3,000 vary, and I’ve not bought every other asset than bitcoin since then.
That modified this week. I used to be studying this fascinating thread from Jeremy Garcia, founder and CEO of Satoshi’s Journal, and he was summarizing MicroStrategy’s Q3 2024 earnings name from earlier this 12 months. It made me come to some realizations.
First, if bitcoin goes to achieve reaching a worth within the tons of of hundreds of thousands and past, then it is smart to get some publicity to an organization that now holds 446,400 BTC, is buying and selling within the Nasdaq 100 Index, and has the longer term potential of becoming a member of the S&P 500.
A strategic bitcoin reserve technique has the potential to make MicroStrategy one of the crucial, if not probably the most, invaluable firm on this planet, and MicroStrategy is barely going to proceed to purchase extra bitcoin, in keeping with Michael Saylor himself.
If MicroStrategy is to turn into the world’s most beneficial firm, then their inventory worth as we speak can be extraordinarily undervalued to what it might be at that time sooner or later. Why wouldn’t I purchase some? I already really feel dumb sufficient for not shopping for any. Positive my bitcoin has carried out extraordinarily nicely, however MSTR has outperformed bitcoin.
I do know I may simply purchase spot bitcoin, and perhaps that’s the most secure play to make. However I’ve additionally been accumulating bitcoin for a very long time, and am desirous about allocating some capital to purchase shares in corporations additionally betting on bitcoin’s future success.
I’d be incomes extra fiat that I may then take and purchase extra bitcoin (if the shares outperform BTC) however even when they don’t, it provides me the chance to take revenue and use it for all times bills.
One other factor behind my thoughts is, what if one thing unexpected occurs sooner or later and I mess up and lose my bitcoin stack because of a private error.
I’ll admit, I’ve anxiousness realizing that though I’ve thought out my bitcoin custody, and brought the mandatory steps to correctly safe my cash, one thing may nonetheless go flawed.
On this means, the considered having another belongings to fall again on simply in case is a optimistic.
Look, I’m bullish on bitcoin. And if bitcoin succeeds then I believe the businesses, people, and nations adopting it should doubtless succeed as nicely.
I really like successful, and wish to get some publicity to corporations additionally successful huge. If I’m flawed on these bets then so be it, it’s solely a small allocation to my general portfolio. However the potential upside is definitely worth the time and threat I believe.
None of that is monetary recommendation, I’m simply sharing my ideas on what I’m doing as a Bitcoiner. For now, which means I’m shopping for MSTR.
This text is a Take. Opinions expressed are totally the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
