He put out another banger https://m.youtube.com/watch?v=_DH6npClQ_s

Bitcoin breaks this analogy with real underlying value. Also, I don’t think size of additional players or path matters, MSTR dominates total BTC supply for corporations so more buyers (via treasury co or other) driving up price is good for MSTR regardless.

I’d recommend this podcast. It’s actually accessible despite the name, and really touches on the problem without focusing on BTC. https://podcasts.apple.com/us/podcast/we-study-billionaires-the-investors-podcast-network/id928933489?i=1000626569266

What’s their background?

Na. Investing in companies to help the bitcoin ecosystem while using bitcoin as your hurdle rate is not a “fiat venture”. He’s following SEC laws while helping btc - we are lucky to have his brainpower in the network.

Great episode. Seems clear Mr. Chanos does not agree that other btc treasury co. competition is beneficial, not burdensome, to MSTR - which seems like the flaw in his argument, that Pierre nailed

A timely, must read on the topic https://www.lynalden.com/bitcoin-stocks-and-bonds/

Thank you!! Also you should set up a wallet, id have zapped you!

Depends on your total stack, risk tolerance, and understanding of what Strategy is doing. Ultimately if you understand MSTR is going after a $300T market by crafting fixed income products for various pools of capital, in order to buy more bitcoin, you might see they are growing on a btc/share basis and therefore it makes sense they could beat a benchmark against BTC while the asset monetizes. This requires lots of work on top of the work to understand BTC. Other benefits too but it introduces counter party risk so hence not a singular answer.