The MSTR cheerleading squad is back at it
Citi at 240, Barclays at 175, B. Riley at 195—Wall Street keeps raising its price targets, while those MSCI passive-fund inflows and outflows have already been priced in as old news. mNAV is at 1.0x, STRC is trading near par, and the $3.75 billion reserve is just enough to cover dividends. It looks like it just won’t die.
The most dangerous thing is mNAV being stuck at 1.0. Buying at the current price means buying at net asset value. For it to go higher, it needs to keep accumulating coins by expanding its balance sheet at a premium. If it dips back below 100K, a shrinking premium would bring the financing flywheel to a halt. A short-term spike followed by a pullback is far more likely than a breakout above the previous high.
Those of you holding , share your cost basis. Would you dare to add here, or wait for to make a move?
$BTC $MSTR $ETH
Citi at 240, Barclays at 175, B. Riley at 195—Wall Street keeps raising its price targets, while those MSCI passive-fund inflows and outflows have already been priced in as old news. mNAV is at 1.0x, STRC is trading near par, and the $3.75 billion reserve is just enough to cover dividends. It looks like it just won’t die.
The most dangerous thing is mNAV being stuck at 1.0. Buying at the current price means buying at net asset value. For it to go higher, it needs to keep accumulating coins by expanding its balance sheet at a premium. If it dips back below 100K, a shrinking premium would bring the financing flywheel to a halt. A short-term spike followed by a pullback is far more likely than a breakout above the previous high.
Those of you holding , share your cost basis. Would you dare to add here, or wait for to make a move?
$BTC $MSTR $ETH