Thanks on chain. I looked at MSTR mnav in the prior cycle and it peaked in March of 2021 while Bitcoin price peaked November of 2021. The mnav for the later stage of the bull market deteriorated down to around 1.4 or so. What's your thoughts on this? Could we just be replaying that same playbook here? Late stage bull market where mnav just continued to compress.
Have been selling MSTR puts and am getting assigned shares this weekend. I feel it is undervalued and am very pleased to see your analysis. I’ll be holding the shares for the longer term.
Marvellously meticulous analysis with clear justifications. The underpinning assumption for the above base, bull and bear case, is that the impossible levels of G7 debt, taxation and declining productivity leave no alternative to currency debasement. Already well into or even beyond the back end of the Laffer curve, the world’s bigger economies - like heavily laden aircraft behind the drag curve, are slowly approaching sudden stalls. Insufficient financial altitude remains to allow recovery. With the passage of time, BTC has no alternative but to continue its relentless manifestation as the parachute of choice. Inevitable case.
You didn’t talk about value. Where a stock trades in regards to its moving averages has nothing to do with value, and your NAV justification is also just where it has traded before
Thanks on chain. I looked at MSTR mnav in the prior cycle and it peaked in March of 2021 while Bitcoin price peaked November of 2021. The mnav for the later stage of the bull market deteriorated down to around 1.4 or so. What's your thoughts on this? Could we just be replaying that same playbook here? Late stage bull market where mnav just continued to compress.
Have been selling MSTR puts and am getting assigned shares this weekend. I feel it is undervalued and am very pleased to see your analysis. I’ll be holding the shares for the longer term.
I appreciate your work 👍🏼
Absolutely it's undervalued. Good piece and keep up the good work.
Marvellously meticulous analysis with clear justifications. The underpinning assumption for the above base, bull and bear case, is that the impossible levels of G7 debt, taxation and declining productivity leave no alternative to currency debasement. Already well into or even beyond the back end of the Laffer curve, the world’s bigger economies - like heavily laden aircraft behind the drag curve, are slowly approaching sudden stalls. Insufficient financial altitude remains to allow recovery. With the passage of time, BTC has no alternative but to continue its relentless manifestation as the parachute of choice. Inevitable case.
You didn’t talk about value. Where a stock trades in regards to its moving averages has nothing to do with value, and your NAV justification is also just where it has traded before