Mingdao: Transforming Illusions into Reality - Discussing MicroStrategy's Grand Strategy
Author | mingdao Original link: https://x.com/mindaoyang/status/1859637646072611254?t=bD5W0n5R-xD4GmFNJ3TOjQ&s=19 Let’s talk about MicroStrategy’s grand strategy today. MicroStrategy has truly hatched the biggest golden egg in this crypto cycle, with paper profits exceeding $15 billion in less than two years. It’s not just a triple arbitrage between stocks, bonds, and Bitcoin. The key lies in transforming MSTR stock into what is essentially traditional finance’s version of Bitcoin (recently, MSTR’s trading volume surpassed that of all Bitcoin ETFs combined). This is a masterpiece of “turning illusion into reality.” Michael Saylor is neither a Wall Street blue blood nor an OG in the crypto world — he’s more like the underdog who knocked out seasoned pros with sheer ingenuity. Here, I’ll briefly discuss the critical elements of his trade structure design: The Stock/Bitcoin Relationship There are two key flywheels at work here: 1. Stock Issuance to Buy Bitcoin: Issuing stock at a prem...