A great example of retail over confidence in the WSJ
A guy quit his job to invest full time 6 months ago, which he says is mostly holding MSTR, compares himself “humbly” to Warren Buffet and Charlie Munger.
Dunning Kruger effect on full display https://t.co/RrgleWeUG0 pic.twitter.com/xM2TeUQ39A
— Novacula Occami (@OccamiCrypto) December 22, 2024
MSTR’s latest BTC buy highlights Saylor’s gamble: overpaying for Bitcoin through stock issuance.
MSTR’s latest BTC buy shows Saylor’s strategy relies on 2 things: “numbers go up” and exciting the less sophisticated herd.
MSTR issued $561mm of stock between Dec 16-22. And bought $561mm of BTC at $106,662 – and he’s already lost 10% on that latest BTC buy over the weekend.… pic.twitter.com/QHdcjlzcW1
— Novacula Occami (@OccamiCrypto) December 23, 2024
Tether’s $750mm in Rumble looks like Paolo being Howard Lutnick’s useful idiot/piggy bank.
Rumble went public via a SPAC merger with CF Acquisition VI, a Cantor SPAC. So Cantor got fees and Rumble shares back then.
Rumble stock has not done great, down ~50% from its ‘22 high… pic.twitter.com/WNx4iPlQxw
— Novacula Occami (@OccamiCrypto) December 21, 2024