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Look, I know I’m late to the party.
I remember covering the news of MicroStrategy’s first bitcoin purchase, and watching the stock rise from $14 to $400 per share. All that time, I didn’t buy.
Anyway, this past Friday, for the first time since 2018, I bought stocks – mostly MicroStrategy (MSTR) and a few other companies that also hold bitcoin on their balance sheets. It was something I never thought I would do again.
In 2018, I sold all my stocks with more bitcoin when the price crashed in the $3,000 range, and I haven’t bought any other asset than bitcoin since then.
That changed this week. I was reading this interesting series from Jeremy Garcia, founder and CEO of Satoshi’s Journal, and he was summarizing MicroStrategy’s Q3 2024 call from earlier this year. It made me realize something.
First, if bitcoin is going to succeed in reaching a price in the hundreds of millions and more, then it makes sense to get exposure to a company that currently holds 446,400 BTC, trades on the Nasdaq 100 Index, and has a strong future. of joining the S&P 500.
The strategic bitcoin conservation strategy has the potential to make MicroStrategy one of the most important, if not the most important, companies in the world, and MicroStrategy will continue to buy more bitcoin, according to Michael Saylor himself.
If MicroStrategy were to become the most valuable company in the world, then the stock price today would be grossly undervalued from what it would be at that time in the future. Why wasn’t I buying? I feel dumb enough not to buy anything. Of course my bitcoin did very well, but MSTR outperformed bitcoin.
I know I can just buy a bitcoin property, and that’s probably the safest play you can do. But I’ve also been accumulating bitcoin for a long time, and I’m interested in allocating some money to buy shares in companies and bet on the future success of bitcoin.
I will be earning more fiat that I can take and buy more bitcoin (if the shares surpass BTC) but even if they don’t, it gives me the opportunity to take the profit and use it for living expenses.
Another thing in the back of my mind is, what if something unexpected happens in the future and I get dirty and lose my bitcoin stack due to personal error.
I’ll admit, I’m worried knowing that even though I’ve thought about my bitcoin storage, and taken the necessary steps to properly protect my coins, something could still go wrong.
This way, the thought of having other assets to fall back on in the event is good.
Look, I’m bullish on bitcoin. And if bitcoin succeeds then I think the companies, individuals, and countries that adopt it will probably succeed as well.
I love to win, and I want to be exposed to companies that win a lot. If I am wrong on this bet then so be it, only a small share of my overall portfolio. But the potential upside is worth the time and risk I think.
None of this is financial advice, just sharing my thoughts on what I do as a Bitcoiner. For now, that means I’m buying MSTR.
This article is a Take it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.
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