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What do you mean by 'lack of intrinsic value'?
With regard to MSTR - the fundamentals of the business absent the BTC stash justifies a tiny fraction of the price.
With regard to BTC - it does not have properties of typical stock investments such as conventional assets, cash flow, earnings projections etc. It also does not have the established state backing and regulatory frameworks which provide some degree of confidence in "fiat" currencies issued by non rogue states.
the term "intrinsic" may be too strong for some... that's fine.
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I was confident I'd be shorting it.
Could be years away.
The gradual decline theory is an interesting one, thanks for sharing your thoughts on that.
To me, the rate and scale of change of price plus lack of intrinsic value puts it firmly in bubble territory, but I'm fully aware that bubbles can persist for surprisingly long periods of time.
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comedy banana artwork is bought by comedy crypto bro (possibly fraud adjacent).
what a time to be alive.