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MSTR Arb Update (Patreon)

Published:
2023-09-19 16:15:32
Imported:
2023-09

Content

Hey team

We have not heard a peep from MSTR about stock issuance or BTC buying.

It is clear they have sold shares - if they are done I still cannot tell.  I am pretty sure they have been buying Bitcoin and issuing shares and hope they did most of it when stock price was high.

We may also see some potential hesitancy for people buying into MSTR as they await the spot ETF.... we shall see.

Nevertheless, based on our evaluations, MSTR should ideally be positioned at a fair value of $362+, accounting for an enterprise value of just $0.2BN.


On a side note, it's worth mentioning that it has been quite some time since we observed MSTR operating under the cloud for such a long time. MSTR is overdue for a pop.

I am going to nibble more soon on next dip.

Best regards,

Files

Comments

Anonymous

Me too! Yummy.

Anonymous

The way I see it, buying MSTR is buying BTC proxy. And that’s a good thing because there are no spot BTC etf’s. So investors and institutions will buy MSTR to have an etf like asset. But what happens when the ETF’s are approved? Why would some buy MSTR when Fidelity or Blackrock can allocate BTC to your portfolio and there would be no worry about the portion of MSTR that’s a software company? I don’t mean to step on anyone’s toes. I’m just curious. Can anyone tell me why MSTR is a good allocation? I do understand that there are times where it’s undervalued and a good buy. But I think it’s at a premium right now. Doesn’t make sense to me. I’m buying the primary asset.

Anonymous

Michael Saylor answered this question in a recent video I saw. I can't remember which one I'm afraid (I watch so many). Michael was basically saying that investing in a stock has a number of advantages over an ETF for companies in terms of financial flexibility and no fees, so he doesn't expect to lose out when a spot ETF is finally approved. The rising tide will lift all boats. Also, in the recent 'Retire On Cocktail' that James did, he was predicting that MSTR could actually out perform BTC over the next 10 years.