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I’m melting
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FW30
Posted 12/23/2024 13:55 (#11022728 - in reply to #11022518)
Subject: RE: I’m melting


EC SD
Bitcoin is highly volatile, so this current dip is not that meaningful. Analysts write: "Since its creation in 2009, Bitcoin has undergone at least five crashes greater than 50%, and three of those were greater than 80%." This volatility is great for day trading, I suppose, but I am not interested in buying anything that trades so wildly...

Now for you MSTR fans out there -- it is time to sell and take your profits!!! The company has no meaningful business other than buying/holding bitcoin and it is currently valued as if bitcoin was around $200,000 not the current $93,000. If you really like bitcoin and want to maintain your current exposure level, sell MSTR and use half of the proceeds to buy a bitcoin ETF. Pocket the other half and/or invest in something else.

MSTR rocketed higher this year on the rumor it would be included in the Nasdaq 100 list. This happened today, and historically any stock added to a prominent index rallies ahead of the inclusion date and then falls back from there. This is because the ETFs that track the index are buying well ahead of the first trading date (today), and that buying is what made the MSTR stock so massively overpriced. Sell MSTR. Read it again: Sell MSTR.



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