Bears watch MicroStrategy ahead of NASDAQ 100 inclusion
Bearish onlookers are increasingly skeptical that MicroStrategy’s flywheel of bitcoin accretion per diluted share can continue much longer.
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Bearish onlookers are increasingly skeptical that MicroStrategy’s flywheel of bitcoin accretion per diluted share can continue much longer.
MicroStrategy’s premium to its bitcoin holdings, sometimes called its NAV premium, has dropped one-third from its November all-time high.
The MicroStrategy chief advised the US government to purposefully dump its gold reserves solely to acquire over one-fifth of bitcoin’s supply.
Bitcoin hit an all-time high above $100K on Wednesday, yet MicroStrategy fell 4.8% the following day and closed 28% below its all-time high.
— Michael Saylor, MicroStrategy
MicroStrategy’s average bitcoin acquisition price has nearly doubled this year and is currently $58,263 per bitcoin.
— Michael Saylor, MicroStrategy
Today is the snapshot date for MicroStrategy to qualify for the NASDAQ 100 (QQQ) index. Next, MSTR must pass an annual committee review.
— Michael Saylor, MicroStrategy
Although bitcoin and MicroStrategy (MSTR) are both up on the day, Michael Saylor’s firm is still roughly 30% below last week’s all-time high.
Irresponsibly Long MSTR members think that Michael Saylor will discover “genius ways” to financialize MicroStrategy's bitcoin holdings.
— Michael Saylor, MicroStrategy
Andrew Left tweeted negatively about MicroStrategy 13 minutes into Thursday’s trading session. Within 90 minutes, the stock had declined 16%.
Bitcoin and MicroStrategy are both rallying with win-win math for bondholders and shareholders. Of course, the party can’t last forever.