Bitcoin is the only digital asset with real value and will grow to become roughly a quarter of global asset value, up from 0.2% today. The four-year cycle is intact; Bitcoin is at or near the bottom of a bear market, providing a buying opportunity for high-conviction investors.
MicroStrategy’s Bitcoin sales are part of a deliberate strategy to build credit-market confidence in the preferred stock STRK. Selling a small amount of Bitcoin allows Strategy to raise far more capital to buy more Bitcoin. The recent sell-off in STRK to $72 was a panic based on misunderstanding; the mechanics remain sound, and the current discounted price represents a missed opportunity that will reverse in weeks or months.