I sold ALL my ASST shares and bought more MSTR!
-> After MSTR reaching a 0% net leverage & being able to pay daily dividends I see 0 advantages for ASST.
What speaks for MSTR:
-> STRC Dividends truly daily, not business days
-> Way more liquidity
-> Longer USD duration (3.8 yrs)
-> Longer BTC duration (42 yrs)
-> Lower cost of capital: (12% vs. 13%)
-> Has an S&P credit rating, Strive doesn't.
-> Real shot at S&P 500 inclusion.
-> MSTR trading at a lower mNav premium (Better value)
-> Digital credit is a scale game.
-> Institutions will pick the biggest player to partner.
Just to name a few, and the only thing ASST has going for it is Size. I hear this argument a lot:
"They will grow faster, because they are smaller"
With that logic I should probably buy ATIF Holdings, the smallest publicly traded Bitcoin treasury company with a total holding of 0.2 Bitcoin. As they have the most room to grow.
You see how this argument makes no sense?
So in search of an argument for ASST I always fell back to MSTR is better.
And I'm in the game of picking the winner, not diversifying in an industry.
I think MSTR is the winner, and it's not even close.
Btw: I don't think ASST is doomed. I think ASST will have an amazing performance. I just can't hold it anymore. MSTR is on every objective measurement better.
Serious question: Is there any real objective advantage for ASST over MSTR?