My Strategy Strategy
The wider Treasury Company complex has never convinced me of its longevity. Strategy is different however, and I've been building a position in this downturn, and this piece outlines my rationale.
G’day Folks,
Back in mid-October, when I authored On The Cusp, Check the Bear made his first appearance, and I noted that I had sold my MSTR (Strategy) risk-position at $300 for a minor loss.
In Monday’s report, I noted that I had re-entered my MSTR position, and at this stage have only purchased half of what I plan to eventually allocate to this wacky stock.
There are no two ways around it, 2025 was absolutely brutal for the Strategy stock, with the price falling more than -70% from the Nov peak, and the Market Cap dropping -63%, now trading below Bitcoin book value.
2025 was actually the worst year ever for MSTR/BTC performance, with the ratio trading down -44% since the start of the year!
Readers will know I have not been overly enthusiastic about the Treasury company complex, but have consistently highlighted that Strategy is in a completely different league.
Today’s post is going to outline my reasoning for why I want to hold a MSTR position in the first place, as well as my logic for re-entering now, and hopefully again later at an even lower price.
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