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61 sats \ 7 replies \ @Undisciplined 3 May \ on: More Saylor, More Financial Engineering (FTAlphaville, Craig Coben) econ
The crazy demand for all these modes of accessing exposure to bitcoin is what gives me confidence that bitcoin is wildly undervalued and people just don't know how to get their hands on the real thing yet.
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99 sats \ 1 reply \ @Aardvark 3 May
Never underestimate what people are willing to do to avoid 5 minutes of reading.
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42 sats \ 0 replies \ @Undisciplined 4 May
I was a teacher, so I would never underestimate that.
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44 sats \ 1 reply \ @000w2 4 May
I think they don't realise they need the real thing yet. They will learn a big lesson about counterparty risk over the next few years.
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0 sats \ 0 replies \ @Undisciplined 4 May
Good chance
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35 sats \ 2 replies \ @Car 4 May
That’s the thing investors do not see Bitcoin they just see a stock going up. All Strategy has to do is produce shareholder value they have no allegiance to Bitcoin.
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13 sats \ 1 reply \ @Undisciplined 4 May
That just kicks the question down a level. Why is that stock going up?
On the margin, I'm speculating, there are investors who believe in bitcoin but aren't comfortable risking their capital holding it directly. They may also believe in Strategy's ability to beat bitcoin's appreciation.
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33 sats \ 0 replies \ @Car 4 May
That just kicks the question down a level. Why is that stock going up?
It’s a convertible note so instead of just getting money back, investors can choose to turn the loan into company shares. That’s why it’s a win win in Strategy eyes it knows what Bitcoin is going to do.
They may also believe in Strategy's ability to beat bitcoin's appreciation.
Exactly I think they see this as derisking into another asset from insert whatever brokerage account they use. You are unable to do that if you invest directly into Bitcoin. Main reason why I am not for viewing Bitcoin as an investment anymore those days are gone post Bitcoin ETF. 1sat=1sat, I am not saying to spend all of your Bitcoin but I am saying to disregard everything but Bitcoin atp, it’s all a wash.
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