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![YoungSaylor21 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1862560424387846144.png) Young Saylor [@YoungSaylor21](/creator/twitter/YoungSaylor21) on x XXX followers
Created: 2025-07-16 03:11:30 UTC

Props to Pierre for representing $MSTR investors very well. 

@RealJimChanos's thesis fundamentally comes down to two points:

X. $MSTR's business model is nothing special because institutions can access cheap leverage to buy bitcoin (completely ignoring the fact that the $300T fixed income market can only access BTC credit through $MSTR). 
X. As $MSTR issues more preferreds, they will have to issue them at greater and greater yields (completely missing the fact that these instruments only improve their credit risk over time). 

Overall, an incredibly lazy short thesis.


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945320360586698825/c:line.svg)

**Related Topics**
[mstr](/topic/mstr)
[alternative investment](/topic/alternative-investment)
[fixed income](/topic/fixed-income)
[$300t](/topic/$300t)
[$mstrs](/topic/$mstrs)
[$mstr](/topic/$mstr)
[props](/topic/props)
[saylor](/topic/saylor)

[Post Link](https://x.com/YoungSaylor21/status/1945320360586698825)