TL; DR
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If US investors want to invest in Bitcoin (without buying it outright), they pretty much have one choice, and one choice only: buy shares of MicroStrategy.
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But with recent talk of a potential Bitcoin ETF, there are concerns about the defensibility of the business model.
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MicroStrategy refutes that argument with some beautifully simple reasoning:
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If investors get the green light for ETFs, they will pour truckloads of money into Bitcoin. Which will increase the price of Bitcoin – and guess who owns 153,000 BTC? MicroStrategy.
Full story
Michael Saylor may not be the name you see among the world’s top entrepreneurs.
But in the category of Entrepreneurs whose entire treasury model is pretty much just “Buy Bitcoin,” he is the GOAT
In fact, Mike has pretty much cornered the market!
If US investors want to invest in Bitcoin (without buying it outright), they pretty much have one choice, and one choice only:
Buy stock in Mike’s company, MicroStrategy.
But with major financial companies filing for Bitcoin Exchange Traded Funds (ETFs) – which would buy and hold Bitcoin, just like MicroStrategy – there are some concerns about the defensibility of the business model.
(Why buy into MicroStrategy, if there is one dedicated Bitcoin fund available?)
Mike counters that argument with some beautifully simple reasoning:
If these big investors get the green light for ETFs, they will pour truckloads of money into Bitcoin.
And guess what that does? It increases the price of Bitcoin.
And guess who owns 153,000 BTC? MicroStrategy.
By getting there early and building momentum over the past three years, MicroStrategy has essentially turned the idea of new competition from a threat to a benefit.
(That’s probably why MicroStrategy has bought another 5,445 BTC for $150 million since August, and now owns almost $4.68 billion worth of BTC).
It seems like the only way to beat Michael Saylor is to not compete in the first place.