Early Uber Investor: Stay Far Away From Saylor's Strategy
Prominent angel investor Jason Calacanis recommends that investors avoid shares of MicroStrategy (now Strategy), founded by Michael Saylor. Instead of investing directly in the company, he advises investing directly in Bitcoin.
Kalakanis' key arguments:
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Strategy shares are “complex, multi-layered” and investors lose control over assets.
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He has previously criticized the company for trading at a discount to its net asset value (NAV).
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In his opinion, Strategy's aggressive buying of bitcoins is damaging the cryptocurrency's reputation.
Current status of MicroStrategy:
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The company owns 638,460 BTC (approximately $74 billion at current prices).
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The stock was not included in the S&P 500 index, which JPMorgan analysts say is a major drag on growth.
Consequences of being excluded from the S&P 500:
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No pressure from index funds.
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Decrease in liquidity and institutional interest.
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Limited access to a wider investor base.
So, despite its significant Bitcoin holdings, MicroStrategy faces growing skepticism from large investors and challenges in integrating into traditional financial indices.
Source: cryptonews.net
