Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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That trade worked out well.
In my note <a href="https://skr.ma/eEB66" target="_blank" rel="noopener">Microstrategy (MSTR US): "Crypto Through The Tulips"</a> back on the 28 June, I recommended shorting <a href="https://www.smartkarma.com/entities/microstrategy-inc-cl-a" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Microstrategy Inc Cl A (MSTR US)</a> and going long bitcoin.
MSTR is up 2.3% since, against 30% for BTC.
MSTR has a tendency to issue paper to buy more bitcoins when the stock is at a large premium to its Bitcoin holdings.  As per its <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/press-release-archive/microstrategy-acquires-additional-bitcoins-and-now-holds-over-105000-bitcoins-in-" target="_blank" rel="noopener">21 June 21</a> announcement, MSTR said it held 105,085 bitcoins. That figure remains unchanged.
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/228/764/original/image_1404123321631156413189.png?1631156418" class="editor-image img-responsive" data-smartkarma-image-id="228764"></figure>
MSTR's share price was US$123 prior to its initial announcement on the 11 August 2020 it was "adopting Bitcoin as a primary treasury reserve asset".
The current implied value for MSTR's stub ops - selling business intelligence software - is US$158/share, having touched US$141/share, suggesting value was emerging.
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/228/821/original/image_21363881771631163833057.png?1631163833" class="editor-image img-responsive" data-smartkarma-image-id="228821"></figure>
Yet is MSTR the ideal proxy for bitcoin? And just how much legitimacy should be attached to El Salvador giving bitcoin the status of legal tender?
More below the fold.
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That trade worked out well.
In my note Microstrategy (MSTR US): "Crypto Through The Tulips" back on the 28 June, I recommended shorting Microstrategy Inc Cl A (MSTR US) and going long bitcoin.
MSTR is up 2.3% since, against 30% for BTC.
MSTR has a tendency to issue paper to buy more bitcoins when the stock is at a large premium to its Bitcoin holdings.  As per its 21 June 21 announcement, MSTR said it held 105,085 bitcoins. That figure remains unchanged.

MSTR's share price was US$123 prior to its initial announcement on the 11 August 2020 it was "adopting Bitcoin as a primary treasury reserve asset".
The current implied value for MSTR's stub ops - selling business intelligence software - is US$158/share, having touched US$141/share, suggesting value was emerging.

Yet is MSTR the ideal proxy for bitcoin? And just how much legitimacy should be attached to El Salvador giving bitcoin the status of legal tender?
More below the fold.


Microstrategy (MSTR US): Bitcoin's Mainstream/Fringes Balancing Act

Alpha-Centric ESG Research

Kyle Rudden

This Insight is about a trainwreck, the head-on collision of two megatrends in investing: ESG, and cryptocurrencies. "Trainwreck," because the raging cryptocurrency/ESG debate has spiraled out of control and made absolute lunatics out of everyone, environmentalists and crypto-zealots alike.Cryptocurrency's environmental impact is not a recent epiphany. Back in 2009, Hal Finney (creator of Bitcoin's proof-of-work system, and even rumored to be the elusive Satoshi Nakamoto) tweeted, "Thinking about how to reduce CO2 emissions from widespread Bitcoin implementation."Prescient, but it didn't elicit a reaction because in 2009 few investors had even heard of Bitcoin and ESG. In 2021, however, Elon Musk's words are able to spark a firestorm because Bitcoin and ESG are now deeply ingrained in the collective investor psyche, and the zeitgeist.And Elon Musk's words sure did spark a firestorm.With this report, I hope to provide what is entirely absent in that firestorm – i.e., a comprehensive, rational, and balanced view of the multifaceted cryptocurrency/ESG relationships. Environmental, Social, and Governance. Including some issues that no one is talking about, but should be.

This Insight is about a trainwreck, the head-on collision of two megatrends in investing: ESG, and cryptocurrencies. "Trainwreck," because the raging cryptocurrency/ESG debate has spiraled out of control and made absolute lunatics out of everyone, environmentalists and crypto-zealots alike.Cryptocurrency's environmental impact is not a recent epiphany. Back in 2009, Hal Finney (creator of Bitcoin's proof-of-work system, and even rumored to be the elusive Satoshi Nakamoto) tweeted, "Thinking about how to reduce CO2 emissions from widespread Bitcoin implementation."Prescient, but it didn't elicit a reaction because in 2009 few investors had even heard of Bitcoin and ESG. In 2021, however, Elon Musk's words are able to spark a firestorm because Bitcoin and ESG are now deeply ingrained in the collective investor psyche, and the zeitgeist.And Elon Musk's words sure did spark a firestorm.With this report, I hope to provide what is entirely absent in that firestorm – i.e., a comprehensive, rational, and balanced view of the multifaceted cryptocurrency/ESG relationships. Environmental, Social, and Governance. Including some issues that no one is talking about, but should be.

ESG and Bitcoin: The Truth Lies Somewhere Between Benign and Boiling Off Oceans

United States

Marathon Digital Holdings, Inc. operates as a digital asset technology company. The Company mines cryptocurrencies, with a focuses on the blockchain ecosystem and the generation of digital assets. Marathon Digital Holdings serves customers worldwide.

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Marathon Digital Holdings (MARA US)

Microstrategy (MSTR US): Bitcoin's Mainstream/Fringes Balancing Act

But my preference would be cryptocurrency exchange platforms, as they capture all key digital currencies, plus dumb down some of the volatility of...

David Blennerhassett

ESG and Bitcoin: The Truth Lies Somewhere Between Benign and Boiling Off Oceans

Elon sparked a firestorm over Bitcoin's climate impacts. Problem is, it's all "greenwashing" by crypto-zealots or "brownwashing" by...

Kyle Rudden

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