Cal89 said:Just seeing your response now. It has been a while...bear2034 said:
A lot has happened since your last post, namely Trump announcing a bitcoin strategic reserve for the country, the election win, the impending removal of Gary Gensler with a pro-crypto treasury secretary, and the start of options trading for bitcoin ETF products. We also have Michael Saylor's Microstrategies issuing debt and buying up massive amounts of bitcoin and front running the U.S. and other companies to the point where the company stock is outperforming bitcoin itself. What a crazy month!
Yup, a lot has transpired. Trump going pro Bitcoin and crypto, while the current administration was stupidly antagonistic toward digital assets, was huge. An estimated 50m Americans hold crypto. Many friends and ex-colleagues, most who are left-leaning, said they would likely vote for Trump. In 2016 and 2020, I don't recall any Trump yard signs down here in Morgan Hill. There were more than a few this year. The craziest thing for me though was on the Cal campus, someone wrote in chalk "God Bless Trump" or something like that... And, I visited the campus a week later, and it was still there! So many other indicators too, including the polls, that Trump had serious traction. I digress...
While I self-custody BTC and select cryptos for the long-term, I play the ETFs and Microstrategy too, mostly in retirement accounts (traditional and Roth). MSTR might as well stand for Monster! Silly profits that just makes me giddy looking at the balances. I have not sold MSTR yet, and I'm not sure I will for a while. Saylor is brilliant. I'll be layering-out of Fidelity's FBTC before I sell MSTR. Because of the "55 Rule" I can take 401K distributions without penalty, if desired. In taxable accounts, if there is indeed no capital gains on US-issued cryptos, buckle-up!
BTC is on the brink of $100K at this moment, with Google and Amazon in the sights...
https://companiesmarketcap.com/assets-by-market-cap/
What's interesting is that many OG bitcoin maximalists who are very familiar with Michael Saylor don't fully understand what's he's doing with MSTR. The discussions are all unfolding right now on Twitter. I have BTC in cold storage and had the ETF in my retirement account but exchanged the ETF for MSTR a week after the election. I wished I started with MSTR from the beginning! It was a blessing in disguise for those people who couldn't buy the bitcoin ETF from their brokerage firms and bought MSTR instead for bitcoin exposure. The challenge now is figuring out when to sell some of the overexposed MSTR allocation but the way things are going, I may never sell.
