$MSTR joining the $QQQ is dumb.
Where is the fiduciary responsibility by Invesco $IVZ to their clients (ETF holders)? It's not a "proxy" to $BTC because it trades at an enormous premium to the only asset it holds.
Even if MicroStrategy were to be considered a proxy for Bitcoin, it makes little sense to add highly volatile crypto as part of a broad index filled with companies that have an "E" to derive a PE ratio.
It's a high-beta play on Bitcoin. Should that be really part of a company-based index?
All it does is make sure that about 0.6% of QQQ's $207B AUM (or about $1.2B) flows into MSTR's stock upon inclusion. More Nasdaq 100 ETFs will follow suit for sure.
But it looks like it's happening. The powers that be will it to happen. And you'd be crazy to ignore the resulting stream of cash that's going to be flowing into this Bitcoin "proxy."
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
10baggerbamm : sounds like you're the last person to be picked at an elementary school dodgeball game and you're just pissed off mad at everybody else so just tell everybody the truth you were thinking about buying it on the dip this past week and you did not so now you want to poo poo the stock that's really the bottom line right?