Why I'm Never Buying Strategy Stock
It's been five years since Strategy (NASDAQ: MSTR) shocked the world with a new internal treasury policy -- it's using every dollar it can access to buy cryptocurrency Bitcoin (CRYPTO: BTC). Since its first Bitcoin purchase on Aug. 11, 2020, Strategy stock is up more than 1,000%.
Despite that performance, I'm glad I've never owned a single share, and I don't plan to ever buy from here.
To be clear, my aversion to Strategy stock has nothing to do with my opinion of Bitcoin. In fact, I believe that the world's largest cryptocurrency will continue to appreciate in value over the long term. Investors, businesses, and even governments want to diversify into this new asset class, and Bitcoin is the "gold standard" of cryptocurrency, so to speak.
Source Fool.com
