The immediate impact for MicroStrategy is known, but the second- and third-order effects are huge for Bitcoin adoption as a treasury asset
Fascinating insights on how this might play out for Saylor, and by extension the rest of corporate America. This to me is more interesting than the spot ETF and halving, because it could result in so much more potent psychological impact on that small demographic of corporate CEOs. It seems like this could potentially orange pill a lot of them... or at least, as you put it, pressure them to consider a bitcoin strategy much more seriously.
Thanks for clarifying this, I never fully understood what this meant!
Great article Jesse! What do you see as the advantages of MSTR over the upcoming BTC spot ETF’s? Will they cannibalize MSTR or does their income stream from the legacy and new business (promoting Lightning use cases for enterprise business) make them a better choice?
In terms of pressure being applied to CEOs/CFOs to adopt Saylor’s strategy, do you think this will disproportionately be in the tech sector? For me, the property market looks pretty dicey atm so I wouldn’t be surprised to see a lot of real estate companies jump on the bandwagon because scarcity will be an easier sell for them after the halvening (when btc s2f > property s2f)
If the future plays out similar to how you've described and MicroStrategy has huge profitable quarters, won't that mean that they'll need to sell some of their BTC holdings in order to pay taxes (assuming there are no more losses to offset them)?
Such a solid explanation, thank you! I’m glad you mentioned clearly that equities analysts know how to look behind the curtain, so that the stock value wouldn’t necessary increase.