So I was just surfing the comments section of a post written by a CFA noting MicroStrategy's cumulative losses and yet it is rumored to be included in the NASDAQ soon (announcement supposedly this Friday).
Lord, the comments trashing the guy reminds me of some the crap I've been pelted with. Yeah, if you take into account market to market gains on its #BTC it hasn't lost money, but current accounting rules do not allow that. No reason to insult the guy for that.
Supposedly, that rule will change in 2025.
So, I made a small short on #MSTR at 363 today, not aware of this story until now. Saw the thing jam up to 378, actually added to my short a few times and covered those on dips, so I am flat on it for the day, but lucky my initial short was small.
Given this news, even though I think #BTC may be at a short term top because of El Salvador and Microsoft news (the reason I shorted in the first place), I changed my stop to 380 from 400 and assume it will get taken out tomorrow unless it dips first and I will cover and then go long.
if #MSTR is included in the NASDAQ that will just encourage more of the dumb passive institutional money that has been forced to buy NVDA and other magic 7 this year to start buying #MSTR as well.
I am not going try to short #MSTR again unless #BTC start moving below 80k.
