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43 sats \ 2 replies \ @HardMoney 11h \ parent \ on: Why MSTR's Bitcoin Are Worth More Than Yours (Money Stuff, Matt Levine) econ
I think an ultimate valuation consideration for the premium is what will the largest bitcoin bank in the world be worth in 20 years when they can generate yield thru lending or providing liquidity to emerging btc use cases
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0 sats \ 1 reply \ @denlillaapan OP 5h
That's fair as a projected idea, but discounted back to present value and probability-adjusted? No way that explains 90% premium
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0 sats \ 0 replies \ @HardMoney 1h
Another way to frame it. How many companies trade at a multiple to their assets
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