While I think MS is a bit too aggressive this early on, I do respect his commitment to his thesis and his willingness to go down with it should the trade go against him in the short term. While a lot has been made about him doubling down on a losing trade, I think the bigger issue is MSTRs custody of it, I think they're using coinbase custody, personally wouldn't be trusting a third party like that all things considered
I still think 2023 is going to be a bear market of note, Powells not going to pivot in the first quater or if he does it will be late into the quater, so still plenty of bleeding to go
I think what he has to worry about as well is Microstrategy's core business drying up in general. It will be hard to make a buck in 2023.
And yeah, that is crazy he has all those coins on Coinbase custody. Their stock is down 90%. Who knows what happens to them if the stock goes down 99%.