Prominent angel investor Jason Calacanis has recommended that investors stay as far away as possible from Michael Saylor’s Strategy (formerly MicroStrategy).
Calacanis claims that investors should simply get exposure to Bitcoin instead.
Vocal Strategy bear
The latest bearish statement, with his earlier criticism of the biggest Bitcoin treasury firm. As reported by U.Today, Calacanis previously opined that Strategy is supposed to be trading at a discount relative to its net asset value (NAV).
Moreover, the early Uber investor previously argued that Saylor’s aggressive Bitcoin accumulation is actually damaging for the Bitcoin brand.
In his most recent social media post, Calacanis claims that investors should eschew the Strategy stock since it is “complicated, layered, and you lose control.”
Strategy’s current Bitcoin holdings stand at 638,460 coins (they are worth roughly $74 billion).
Strategy stumbles
Earlier this month, Strategy failed to get included in the S&P 500 index.
Even though Saylor claimed that the company did not anticipate making the cut during its very first quarter of eligibility, JPMorgan analysts describe the snub as a “major setback” for the high-flying company that might also affect how other index providers view MSTR and other Strategy stocks.
Getting included in the S&P 500 comes with such benefits as index fund buying pressure, surging liquidity, and significantly greater institutional acceptance. This would also substantially broaden the investor base.