$MicroStrategy(MSTR)$ Ignore those who focus solely on NAV; they fail to grasp MicroStrategy's Bitcoin strategy and its role as a Bitcoin Development Company. Common sense should tell people that this isn't an ETF and shouldn't be and isn't valued like one. ETFs don't own the Bitcoin that they custody like MSTR. Instead, MSTR is a company with a balance sheet that leverages to buy Bitcoin, which is accretive to earnings on said balance sheet. MSTR offers services to the bond market to give them exposure to Bitcoin that could not happen otherwise due to their rules. If you aren't valuing this company with a higher multiple like a bank, then you aren't valuing it correctly.
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