Look, I know I’m late to the party.
I remember covering MicroStrategy’s first Bitcoin news buy inand I watched the stock go from $14 to $400. At that time I did not buy.
However, last Friday, for the first time since 2018, I bought stocks, namely MicroStrategy (MSTR) and several other companies with bitcoins on their balance sheets. It’s something I never thought I’d do again.
In 2018, when the price reached $3,000, I sold all my shares for more bitcoins, and since then I have not bought any assets other than bitcoin.
That changed this week. I was reading this interesting thread Jeremy Garciafounder and CEO Satoshi Magazineand he was to sum up MicroStrategy’s Q3 2024 earnings earlier this year. It made me realize something.
First, if Bitcoin is going to be worth hundreds of millions and more, it makes sense to look at a company that currently has 446,400 BTC, trades on the Nasdaq 100 index, and has potential for the future. Join the S&P 500.
A strategic bitcoin backup strategy has the potential to make MicroStrategy one of the most valuable companies in the world, and MicroStrategy will continue to buy more bitcoins, as Michael Saylor himself said.
If MicroStrategy is going to be the most valuable company in the world, their stock price will be significantly undervalued today than it will be at that point in the future. Why don’t I buy? I feel stupid for not buying anything. Of course, my bitcoin worked very well, but MSTR outperformed bitcoin.
I know I’ll just buy bitcoin, it’s probably the safest bet. But I’ve been hoarding bitcoin for a long time and I’m interested in allocating some capital to buy shares of companies, betting on the future success of bitcoin.
I could earn more fiat and then buy more bitcoin (if the stocks exceed BTC), but even if they don’t, it still allows me to make a profit and use it to make a living.
Another thing I have in mind is that if something unexpected happens in the future, I lose my bitcoin stack due to a personal mistake.
I’ll admit, I’m concerned that something could go wrong even though I’m thinking about putting my bitcoins into custody and taking the necessary steps to properly secure my coins.
In this way, the idea of having some other assets is positive.
Look, I believe in bitcoins. And I believe that if bitcoin is successful, so will the companies, individuals and countries that adopt it.
I love to win and I want to meet companies that win big. If I’m wrong on these bets, so be it, it’s just a small allocation to my overall portfolio. But I think the potential upside will take time and risk.
None of this is financial advice, I’m just sharing my thoughts on what I do as a bitcoiner. For now, that means I’m buying MSTR.
This article is a Take it. Opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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