Anders Jensen @Anders_: "Dear copiers and followers *Update November..."

United States

Dear copiers and followers *Update November 20th, 2025* I am very happy that it is now possible for Popular Investors in USA to also buy stocks and not only cryptocurrencies, where Bitcoin is the only one I am interested in at all. So until today my portfolio has been 100% Bitcoin since the inception of my account in 2019, and it has done really well. I am the most copied investor in USA with 2,100 copiers and I have accrued 1.2 million followers across eToro’s global reach. From the bottom of my heart thank you to everyone copying and following me and thank you to eToro for making this possible. I do believe that Strategy (former Microstrategy) $MSTR (Strategy Inc) over time will outperform Bitcoin, as it has done in the past. Granted this year it has been the opposite, but that is why I am very happy that I now have the opportunity to switch some of my Bitcoin position into MSTR. Today I have sold almost half of my Bitcoin on eToro and moved into MSTR. I think the timing is good now, as we catch MSTR with a compressed mNAV (multiple of net asset value), which means we are buying it at a historically low point compared to previously. Let me explain the company Strategy - in short their focus is to accumulate more Bitcoin per share. They do this in a few different ways, but currently the biggest driver of new Bitcoin on their balance sheet is the selling preferred shares, which is a fixed income product. They use the proceeds from here to buy more Bitcoin. This year alone they have grown the Bitcoin per share by 27.8% and this is how you outperform Bitcoin over time - that each share owns more and more Bitcoin. The big question in the market now is whether the 4 year Bitcoin cycle is over. We certainly didn’t (yet) get the bull run top here in Q4 that most people were expecting. I am definitely personally disappointed over the price action, but we have to play with the cards that we are dealt. The remainder of the year will be very interesting in terms of where Bitcoin is going, and in particular next year I would love to see a higher high than we had this year around $125,000, as that would indicate that the cycle is broken. If it is broken and we go higher next year instead of having a bear market year, we should all be better off. But it is impossible right now to say if it will go one way or another. However it is hard for me to see next year as a long bear market, as we haven’t had a blow off top from where to see the price slide. We are not even up for the year, so it’s hard to see 2026 as a bear market. I certainly hope it won’t be the case, but as I have said before there are zero guarantees in investing. I would be happy to put Metaplanet in my portfolio here as well, but it doesn’t have a direct listing on Nasdaq (yet), so this is not possible. They only trade over the counter (OTC). I am also interested in adding some $QQQ (Invesco QQQ), $AMZN (Amazon.com Inc) and $TSLA (Tesla Motors, Inc.) in my portfolio now, but I am not selling Bitcoin this cheap to make that move. Let me explain why I see them as interesting in my portfolio: If the four year cycle is over for Bitcoin and we keep going up over time with the usual swings up and corrections down, then it would serve two purposes for us: We have exposure outside of the Bitcoin ecosystem, which may not do AS well as Bitcoin, but it reduces the overall risk profile This further allows for portfolio rebalancing between our positions, which means that in a hard Bitcoin correction, there are other funds to tap into, to buy the Bitcoin proxies for on the cheap. That also goes the other way, where in a euphoric situation in Bitcoin and for $MSTR, which I do believe will happen again, we will be able to take some profits and move them outside of Bitcoin in something more stable that still goes up over time, which then will allow us to move funds back into the Bitcoin proxies, when they have corrections If you want to copy my performance you would need to copy my open trades. All the best Anders $BTC

Not investment advice. The author may have financial interests in the mentioned instruments.