Look, I know I'm late to the party.
I remember covering the news about MicroStrategy's first bitcoin buyand I have seen the stock rise from $14 to $400 a share. All that time, I didn't buy.
However, this past Friday, for the first time since 2018, I bought stocks – mainly MicroStrategy (MSTR) and a couple of other companies that also have bitcoin on their balance sheets. It was something I never thought I would do again.
In 2018, I sold all my stocks for more bitcoin when the price fell into the $3,000 range, and I haven't bought any assets other than bitcoin since then.
That changed this week. I was reading this interesting series from Jeremy Garciafounder and CEO Satoshi's Diaryand he was summarizing MicroStrategy's Q3 2024 earnings call from earlier this year. It made me come to some realization.
First, if bitcoin is going to succeed in reaching a price in the hundreds of millions and beyond, then it makes sense to get a little familiar with a company that now has 446,400 BTC, which trade in the Nasdaq 100 Index, and has the potential in the future. to join the S&P 500.
A strategic bitcoin reserve strategy has the potential to make MicroStrategy one of the largest, if not the most valuable company in the world, and MicroStrategy is only going to continue to buy more bitcoin, according to Michael Saylor himself.
If MicroStrategy is going to be the most valuable company in the world, its stock price today would not be worth much more than it would be at that point in the future. Why not buy some? I already feel dumb enough not to buy any. My bitcoin has certainly performed very well, but MSTR has outperformed bitcoin.
I know I could just buy bitcoin spot, and that's probably the safest play I'll make. But I have also been collecting bitcoin for a long time, and I am interested in allocating some capital to buy shares in companies also betting on the success of bitcoin in the future.
I would earn more fiat that I could then take and buy more bitcoin (if the stocks are better than BTC) but even if they don't, it allows me to take a profit and use it for expenses life
Another thing in the back of my mind is what if something unexpected happens in the future and I lose my bitcoin stack due to a personal mistake.
I'll admit, I worry knowing that even though I've thought about my bitcoin holdings, and taken the necessary steps to properly protect my coins, something could still go wrong.
In this way, it is a good idea to think of other assets to fall back on just in case.
Look, I'm supportive of bitcoin. And if bitcoin succeeds I think the companies, individuals and countries that use it will also succeed.
I like to win, and I want to get to know some companies that also win a lot. If I'm wrong on these promises so be it, it's just a small allocation to my overall portfolio. But the upside is worth the time and risk I think.
This is not financial advice at all, I'm just sharing my thoughts on what I'm doing as a Bitcoiner. For now, that means I'm buying MSTR.
This article is a Take. The views expressed are entirely those of the author and do not necessarily reflect the views of BTC Inc or Bitcoin Magazine.
