Archive: https://archive.today/lRPGv From the post: >>For the past several years, an objectively stupid stock market trade has been creeping further and further into your retirement. At long last, it’s retreating. Keep your guard up, though. There is a company called Strategy—which until last year was called MicroStrategy. Strategy sells some software, enough to generate $128 million in revenue in the last quarter for which it reported earnings. But that’s not really its business. Strategy’s business is to regularly sell new stock to investors, use that money to buy Bitcoins, and pay dividends to some of its existing investors. But here’s what’s fun: Strategy’s more than 700,000 Bitcoins are worth $54 billion at current prices. Meanwhile, the entire market capitalization of Strategy, whose business is buying Bitcoins, was about $41 billion when the market opened on Tuesday. That means that instead of paying roughly $4 for a tiny slice of a Bitcoin, anyone buying Strategy stock is paying around $5 for the same theoretical exposure to Bitcoin.* You might also get some dividends, but you’re not getting much else, because Strategy doesn’t do much else besides buy Bitcoin. In fact, about 3 percent of all Bitcoin belongs to Strategy.