A glance at the Slope home page got me to thinking……..
As we all know, Bitcoin (and crypto in general) has had an overall amazing success over the past ten years. Strangely, the equities that you would assume would have joined the party have just flopped around for years and years without really going anywhere, such as RIOT…….
…….and MARA. I mean, honestly, ten years of absolutely ZILCH.
The one notable exception is, of course, MicroStrategy (MSTR) which has transformed itself from a completely failed Internet bubble flop into BTC holding company mega-success-story, all thanks to the apparent showmanship of one Michael Saylor.
I do wonder, though………..what if BTC experiences another serious “risk off”? I’m not talking about a few hours or even a few days. But – – weeks or months. After all, the incoming federal administration is absolutely MANIC about crypto, pledging all kinds of stuff, including super-lax regulations, a crypto-friendly SEC, and, with the vast amount of spare cash the US has laying around, a big ol’ honkin’ sovereign wealth fund of Bitcoin just, ya know, because of strategy and whatnot.
In spite of this slathering of political favoritism, BTC has been flopping around since before Thanksgiving in roughly the same range. What if this is as good as it gets? Let’s say BTC slides to, oh, nothing apocalyptic, but back into the $70,000s? That would crush almost all the profits that MSTR’s BTC holdings currently enjoy, and I daresay the stock would get kicked directly in the 1s and 0s, just like in did only two years ago when it lost about 90% of its value.
I have no position, nor do I intend to ever have one, but it would be kind of a kick to watch that, eh?
