Oddbean new post about login | logout The fact that more public companies haven’t run the MicroStrategy playbook yet is kind of wild actually.
True, but I believe more will have to make the switch or they'll cease to exist in the future.
Nobody runs the Berkshire playbook either.
Gotta love asymmetric knowledge
River did a report on this a bit ago. There might be more coming around the corner. https://blog.river.com/business-bitcoin-adoption-2024/
They don't have the knowledge required for the conviction. Kinda impressive considering the lack of understanding Saylor displayed when he went of Saif's show. I know someone who believes that it must be an individual, organizations by their nature cannot hodl. I think that will change once bitcoin is just money, but it seems true today.
In the company I work for, which at that time was public, the CFO got confronted with the question in an AUA why they don’t convert partly to bitcoin for treasury purposes. The answer baffled me: “I don’t understand bitcoin. It seems interesting but I just don’t get it”. This is now 4,5 years ago. Still no BTC on the balance sheet and a missed opportunity.
A lot of it is probably down to weird accounting practices in the US - Up until spring this year you had to account BTC as a intangible asset. This basically meant you could only write it down on paper, never up. That was of course really stupid and now you can just account it at fair market value. But this probably hampered corporate adoption quite a bit while it was still a factor.
IMO board members of the most influential public companies are mostly risk averse and they like the risk free 4%+ on dollars.
Yes, but some of them will realize that the traditional non-risky move may be the riskier option.
💯 I have the feeling there are many behind the scenes getting their corporate ducks in a row though. Dell, for example.
Absolutely! Clearly there’s a room where it’s happening 👀
How many struggling/zombie publicly traded companies are still founder controlled and with cash on balance sheet?The question is when the perception flips from a Hail Mary strategy (Saylor) to simply another capital allocation decision.
Bro our periods are syncing. Are you my twin? We just posted the same thing at the same time approx
We are smart.
Shocking to us yes. But you have to think most of the companies without growth are no longer founder run. Some slap-dick CEO just wants to get his bonus and move on to another job. And the zombies probably just want to get sold before they die
Agreed surprisingly but maybe other factors preventing them from doing so like a board or investors there are still a lot of people that hate Bitcoin and digital assets either they can’t understand it or have been burned by it either way you look at it it’s an inevitable just a matter of time
I work for a public company and write a convincing letter to look at what Microstrategy is doing every time they send out surveys or ask employees for ideas. Nobody has acknowledged it yet or given me any feedback unfortunately... 😕
I feel your frustration
Why is that? Shouldn't companies do whatever their core business is (manufacturing, agriculture, retail, etc) rather than leverage up to speculate in currency markets?
quite bizarre
I listened to @dylan podcast interview last week and he seemed to conclude he doesn’t expect a lot of corps will follow the mstr playbook given the rare combo of experience in trad finance, a deep understanding and conviction in bitcoin, and an ability to wrap one’s head around the idea that diluting one’s stock can be a net benefit. It flies in face of common wisdom in corporate finance. 🤷
I think it’s a clear indication as to the unique MSTR situation A business still controlled by the founder to a large degree
Absolutely this plays a role I do know many private businesses following it
Is the playbook an actual published doc?
And the soon to be leader of the "free world" is getting ready to mint a new shit coin...we are still soooooo early 😂
