$Strategy(MSTR)$ These articles questioning MNAV are cracking me up. As if the structural risk of buying an unhedged commodity suddenly appeared and people are surprised by the impact when BTC falls. There is amplified risk on both sides. Isn't that the point of the model. Good grief. You would expect intelligent individuals to be smart. Or is there something more manipulative behind the intent of these content authors? Hard for me to believe they are not that intelligent.
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