Editor’s Note: Elon’s next launch will be bigger than SpaceX, Tesla and xAI combined, says the man voted America’s #1 stock picker in 2020. Get the full story from my colleague while there’s still time.
Dear Reader,
The U.S. Treasury is preparing to make a major change to how you access Social Security.
The IRS are involved, too.
As is Elon Musk.
And President Trump.
In fact, the White House has already passed TWO Executive Orders paving the way for a radical change to how millions of Americans spend, save and access government benefits.
It could be the biggest shift to our money system in decades and change the way you receive your social security check.
One Wall Street insider says banks should be ‘scared s**tless’.
And Elon Musk says it could be the end of traditional banking as we know it.
It all comes down to a $480 trillion reset that could change your life in several very strange ways.
It’s been approved in 50 states already.
And the technology involved is being rolled out all over our country.
Get the full story today, before it’s too late.
Best,
Luke Lango
Senior Investment Analyst, InvestorPlace
P.S. The last time I saw a change like this coming you could have made as much as 31,000% over the course of a decade. This time, the gains could be even bigger.
MSTR’s $6.75B Debt Load Is the Volatility Hiding
Strategy Inc. has been one of the most volatile names in the market over the past four weeks. The stock ripped from a low of $92.52 on August 18 to the mid-$130s by September 8, a move of roughly 45%. Recent sessions have featured wide intraday ranges, with MSTR spiking as high as $144.92 on September 3 before pulling back toward $136.52 on September 8. That kind of range attracts momentum traders. It also obscures a capital structure that carries real sequence risk.
The company now controls approximately 845,050 bitcoin, acquired for roughly $63.73 billion, giving MSTR exposure to around 4% of total BTC supply on its own investor dashboard snapshot. After deducting $6.75 billion of debt and $15.24 billion of preferred stock, the residual net reserve available to common shareholders sits at roughly $36.68 billion. That sequencing matters: preferred holders and creditors get paid before equity does, and the leverage that amplifies gains on the way up compresses that residual fast when bitcoin slides.
The software business reported Q2 revenue of $122.4 million, up 6.9% year over year. Subscription services revenue rose to $62.9 million from $40.8 million in the year-ago quarter. The software segment provides operating continuity. It does not move the stock.
Wall Street is broadly constructive, but the range of opinions is unusually wide. Canaccord raised its target to $175, while Bernstein trimmed from $450 to $350 for dilution and macro shifts but maintained an Outperform rating. The Street consensus sits around a Buy with an average target near $230. At the bearish extreme, some analysts see MSTR as low as $54. A $176-point spread in analyst targets is not disagreement about valuation methodology. It is disagreement about what bitcoin does next.
Between August 31 and September 7, management deployed $176.3 million to repurchase STRC preferred stock while reporting no ATM sales and no bitcoin purchases for that period. Traders read that as a support signal. The more structural read is that the company is managing its mNAV premium carefully. As of a mid-August investor presentation snapshot, Strategy put mNAV at about 1.06 times net reserve. In that same presentation, the company illustrated mNAV levels such as 1.25 and 1.5 as scenario points tied to implied prices, not as a historical market-timing signal.
The company’s own SEC filings acknowledge the essential trade-off: common shareholders are last in priority, bear the full volatility of bitcoin, and can be diluted when capital is issued at unattractive terms. That is not a risk footnote. It is the operating model. Disciplined traders tracking MSTR should monitor the mNAV ratio alongside bitcoin’s spot price. The stock can move violently in both directions with the underlying barely flinching. Position sizing and defined exit levels are not optional here.
