The same goes for the classic parameters for investing in the stock market, such as P/E, PEG or ROE, none of which is absolute.
I wouldn't deny the benefit of speculation but what they are pushing is just Price speculation.
Here you separate something that is not separate. He who speculates speculates for profit.
The 2008 financial crisis stemmed from speculative over leveraging in housing markets
Which created a market bubble.
Unchecked speculation can cause crisis especially one that's hinging on price increment alone.
It seems to me that you are agreeing with Peter Schiff. If the speculation going on with companies buying bitcoin is bad and is something similar to what happened in the 2008 crisis I don't see why you apply the same argument to bitcoin, that people are buying to get rich.
On a debt basis you can't apply that argument, as Strategy is financing its bitcoin purchases primarily by selling stock, which is a move that will be studied in economics and finance textbooks for decades if not centuries to come. Strategy's debt as of today on its NAV is 13%, which is like a joke if you are trying to imply that this is similar to the 2008 crisis.
That people like you don't understand the turnaround makes me realize that it is still too early and therefore I will make another MSTR purchase shortly. Profit is made by buying when people don't understand what's going on, or laugh at you or say it's a bubble, things like that. Like buying bitcoin in 2010, where if you bought you better not tell anyone or they were going to consider you a crazy person, that you had fallen into a scam, a ponzi scheme, that you were speculating (in a bad way) etc.
In the case of fillippone I remember that he said that he shorted MSTR and it went wrong, but at the time I thought he understood the conceptual shift that meant putting bitcoin as a business model reference and its concepts. But as far as I see it has not been like that.