My first move with #TradebStocks is to buy MicroStrategy (MSTR). Here is why I did it.
I tried out bStocks on Binance Square. I just made my first trade: I bought tokenized MicroStrategy (MSTR).
So why did I choose MicroStrategy (MSTR)?
MicroStrategy (MSTR) is really expensive compared to its Bitcoin holdings. It is like a leveraged Bitcoin investment. Since Bitcoin is not moving near $70k and the next halving is still happening MicroStrategy (MSTR) is good for swing traders because it can go up and down a lot.
My simple analysis of MicroStrategy (MSTR) is this:
The price of MicroStrategy (MSTR) can change a lot. It is often 2 to 3 times more than Bitcoin itself.
I can trade MicroStrategy (MSTR) on BNB Chain with bStocks anytime I want. I do not have to wait for the Nasdaq to open.
I set a limit order to buy MicroStrategy (MSTR) at 10% less than yesterdays price. I hope it will go up 15% in a week.
I tried it out and here is what happened:
I bought an amount of MicroStrategy (MSTR). Just 0.1 bMSTR. To see how fast it would work. It worked well. I got the asset in less than 30 seconds and I could see it in my Binance wallet.
One thing that would make bStocks better is this:
They should add limit orders with stop-losses for bStock pairs. Now I can only do simple trades. If they add trailing stops it would be really helpful for managing risk.
This is not advice on what to do with your money. It is my first try, at buying tokenized stocks. I am excited to see what happens with bStocks next.