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Kurifodo I post too much Reputation: 23
Joined: 09 Oct 2008 Posts: 2782
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Posted: Tue Feb 09, 2021 2:42 am Post subject: |
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HackOtaku wrote: | Clifford wrote: | HackOtaku wrote: | Clifford wrote: | Clifford wrote: | This bull run will be different than all other bitcoin bull markets because the buyers are institutions and high net worth individuals. Coronavirus has only accelerated the digitalization of our culture and our economy. If the federal reserve is making their own crypto currency pegged to USD, it's only natural if you have a digital gold counterpart and bitcoin is serving as that vehicle.
Bitcoin is very scarce right now, largely thanks to groups like Greyscale buying up all the supply. This trend will only continue and it will fuel bitcoin's rise in price as high networth investors fomo in. It's hard to call the top, but I think a $50,000 bitcoin is actually a CONSERVATIVE number, with possibilities of $100,000-$400,000 by December 2021. | Bitcoin surges above $44,000 to record after Elon Musk’s Tesla buys $1.5 billion worth |
You have any opinions on MicroStrategy? |
Short answer: strong buy if you are bullish on bitcoin, intrinsic value will mirror bitcoin and it's only trading 4x its balance sheet (which is a fair valuation imo)
Longer answer: Let's pretend MSTR is valued 100% off it's balance sheet (because it basically is): To calculate the the balance sheet, tally all the assets they own (70,000 BTC) subtract the debt (600 million) = 2,500,000,000 USD. MSTR has a marketcap of 8 billion, their balance sheet is worth 25% of the marketcap of the company. It's trading 4 multiples above it's balance sheet, which isn't that bad imo. The market is always pricing in the future, and that's why it's normal for a company with a bright future to trade many times higher than it's intrinsic value.
They are also a somewhat stagnant software company, with good cash flow who spent 25% of their revenue last year buying back their own stock (which makes the price go up).
source used: https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/events-presentations/Q4-2020-MicroStrategy-Earnings-Presentation.pdf |
I bought $400 worth when I asked and made $30 in that time. Still a poorfag so I cant invest big but I'm feeling more confident about long term prospects of cryptos. |
It's a great long term hold if bitcoin continues rising, just make sure every so often monitor the marketcap/balance sheet ratio. When bitcoin is in a bullmarket MSTR will trade at a premium (like right now) compared to their balance sheet (outperform bitcoin) because investors are pricing in higher bitcoin prices, but that premium will disappear if bitcoin slides in a bear market, which will mean MSTR will crash harder than bitcoin.
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Anon |
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