Since day 1 of arriving in Cryptoland, Michael Saylor has made a name for himself and Microstrategy as big Bitcoin buyers. I've listened to dozens of his interviews and I read each MSTR filing when they go public.
One was just filed yesterday that outlines a sales agreement to sell $750M worth of Class A Common Stock in MSTR.
The proceeds will be used to purchase more BTC and add it to Microstrategy's growing - and astonishing - stack of 152,800 BTC which is currently worth roughly $4.5 Billion USD.
“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing."
pssst have you seen 
Microstrategy's... Strategy
Their strategy isn't so Micro and it also isn't so secretive. The obvious strategy that Michael Saylor is deploying is to be a proxy-ETF for Bitcoin.
Currently, BTC has no ETF listings in the U.S. It's incredibly hard for large companies, investment funds and certain large individuals to buy BTC legally.
He explained it in a recent CNBC interview really really well.
I'll paraphrase what he said:
Buying BTC (native) is almost like buying a really amazing house in a shitty neighborhood. Buying a BTC ETF is like buying a really amazing house in an amazing neighborhood. Buying MSTR is like buying a really amazing house in an equally amazing neighborhood.
The reason? Buying on the TradFi rails allows you to use leverage, refinance, put it on your balance sheet, etc.
He makes a good point here. For non-retail investors, holding BTC on the stock market (whether through an ETF or a proxy-ETF like MSTR) is highly valuable for certain hedge funds and institutions.
These institutions and funds have guidelines. They have filing requirements. They have shareholders. They have board members.
They also have specific leverage and other tactics that they can only use on something that is a "Stock ticker" (to simplify the idea).
Microstrategy's strategy is genius: front-run the ETF Listing.
By front-running the listing of a real ETF for BTC (most likely to be approved first through Blackrock's ETF Filing with the SEC), Microstrategy positions itself to benefit the most from an ETF approval.
Will MSTR Drop Because of the ETF Getting Approved?
If (and most likely, wen) an ETF gets approved for BTC, some have wondered what role MSTR will play in the marketplace.
If they truly built a proxy-ETF, then what would their purpose be if there was a real ETF?
I loved Saylor's answer for this too: he's front-running it.
An ETF approval would send MSTR stock to the moon. The ETF would get approved but it wouldn't immediately be tradable.
That means that the fomo would set in. Likely even in the weeks and months leading up to the actual approval itself.
So all that FOMO... where does it go?
For retail, we put it into native BTC.
For institutions & Hedge Funds who want BTC exposure before the massive uptick from the actual ETF Launch, they don't have many options. MSTR might be their only viable play.
What Can We Learn from MSTR and Saylor?
I think the #1 lesson to learn from Saylor is what deep conviction means. If you have deep conviction in an asset or asset class or business, then you should dive in head first.
Either you're wrong and you'll have to start over but have more knowledge for it...
OR... you're right and you're right in a BIG, LIFE-CHANGING way. That's what Saylor aims to achieve.
pssst have you seen
- Vote the Proposal on PeakD ▶️ https://peakd.com/me/proposals/269
- Vote the Proposal on Ecency ▶️ https://ecency.com/me/proposals/269
- Vote the Proposal on Hivesigner ▶️ https://hivesigner.com/sign/update-proposal-votes?proposal_ids=%5B269%5D&approve=true