$MicroStrategy (MSTR.US)$ holds 205k $Bitcoin (BTC.CC)$ wort...
$MicroStrategy(MSTR.US$ holds 205k $Bitcoin(BTC.CC$ worth $15.2 bn at $74k/coin. Let's be charitable and say the software business is worth 5x revenue, or $2.5 bn, even though it is a loss making business. The stock trades at a 71% premium.
Why does this premium exist? Because arb traders are too scared of a short squeeze.
David Einhorn says markets are broken. And he is absolutely right. MSTR/IBIT is the new Palm/3Com.
Why does this premium exist? Because arb traders are too scared of a short squeeze.
David Einhorn says markets are broken. And he is absolutely right. MSTR/IBIT is the new Palm/3Com.
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