MSTU/MSTR parity?What is worth more: The largest publicly traded BTC hodler with $16B in assets, or the TREX 2X ETF, which is less than two weeks old? Markus Theilsen of 10X research thinks MSTR is overvalued vs BTC, but this is false. Microstrategy is just turning bullish in sats, and has ~300% upside in satoshis from here. So Markus is either very dumb, or he’s lying. I’m going to say he’s lying because even he states in an article today that “ market-makers may be forced to hedge their short gamma exposure..”, and “…hedge funds holding $4.6B in short positions on Microstrategy shares could face pressure to cover those shorts if the price surpasses the $180 mark. Ok, we’re above that now, and we were above that when he wrote his article. So, which is it? Is it overvalued vis a vis Bitcoin, or are we about to witness an epic short covering?
I believe a massive short covering, which is why I went long MSTU. Price parity? I don’t know, but we will see. Good luck out there.
