This doesn’t seem smart. Taking a short position anywhere near that right now. 

 I love this one 😂 https://i.nostr.build/GeRPk.jpg  

 MSTR exists because there are institutional investors who are not allowed to buy the underlying asset or the ETFs. 

 We have already won. 

 haven't looked at the report yet, but what if MSTR is is just more correct on the forward price of Bitcoin? in other words, they are correct the premium will close but not from the direction they think.... 

 Clearly they under estimating the value of MSTRs ability to raise cheap debt. Every convertible debenture is accretive to the under lying. Curious to see where the market premium caps out. 

 But if a stock trades at 15-30X it's future earnings in Fiat that's OK?   

 Probably  @saylor agrees with them, that $MSTR shares are priced too richly compared to the underlying btc. That's why he keeps issuing more shares to buy btc

 @LynAlden had a similar argument recently