Hi Matthew,
Fan of your work and totally agree the STRC vehicle was marketed as a safe haven which it clearly has proven not to be. One thing I’m unclear on still is as a bitcoiner, isn’t bitcoin/share the most important metric? It would be preferred if that goes up via standard business profits vs financial engineering. Mstr is one of the few companies raising their btc/share, at least with bitcoin on their actual balance sheet. If you believe in bitcoin long term, wouldn’t you expect Mstr to do well? Again, think they aren’t marketing risks appropriately which is disappointing.
