SHORTING STRATEGY STOCK AS WAY TO BENEFIT FROM THE COLLAPSE OF BITCOIN
WITH ADVICE TO MICHAEL SAYLOR
SHORTING STRATEGY (MSTR)
Those of us who think bitcoin is more than slightly OVERPRICED have seized on shorting the prime supporter of bitcoin - Michael Saylor’s Strategy (MSTR). Since recommending shorting Strategy (MSTR) @ $245 on November 9th, the stock gratifyingly has dropped to @ $200. I reiterate my short pitch to wit…
SHORT MSTR @ $200
…and now could not consider getting out unless the stock went up by, say, 15% to $230.
Bitcoin itself has been collapsing at a fearsome (to the bulls) rate, since peaking on October 10th @ $125K, the Nov 25 future has dropped to $94K- OOF!
And the Wall Street Journal chimes in: “Bitcoin Ends Week in a Slump”, noting that selling of bitcoin has sped up to 815,000 bitcoin in the last 30 days, the highest level since January 2024!
LINK to article: https://www.wsj.com/finance/currencies/bitcoin-ends-week-in-a-slump-0ef2b8b9
Nothing daunted (at least in public) Strategy CEO Michael Saylor as he remains bullish on the outlook for bitcoin by carefully managing, not to mention the bear market in either bitcoin or Strategy itself, which has (since July) crashed from $435 to $200. But then his interviewers managed to avoid such questions as well.
The main reason crypto supporters are hopeful is they claim that bitcoin is a store of value superior to owning dollars in the future. I can understand why the past rise of bitcoin prices in dollar terms would stand as a good rationale for thinking bitcoin should be a better store of value than the US dollar,
BUT
our counter to that opinion is that as a store of value in the future, bitcoin has competitors and IMHO the top competitor is- wait for it- SILVER.
Compare the chart of Bitcoin vs. Silver…
Bitcoin:
LINK Bitcoin chart here: https://futures.tradingcharts.com/chart/BT/W
Silver:
LINK Silver chart here: https://futures.tradingcharts.com/chart/SV/W
Mr. Saylor would do well to look at our list of bullish factors for silver (updated in our 11/9 Substack Newsletter).
So my advice for Mr. Saylor’s strategy for Strategy - with our silver list in hand - would
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