Bitcoin has only moved lower since $MSTR launched its preferreds. As a result, we have not yet seen the reflexive feedback loop of a bull market. A rising BTC price will (1) enable increased issuance of preferrds, and (2) drive mNAV higher, enabling expanded use of the common
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Bitcoin has only moved lower since $MSTR launched its preferreds. As a result, we have not yet seen the reflexive feedback loop of a bull market. A rising BTC price will (1) enable increased issuance of preferrds, and (2) drive mNAV higher, enabling expanded use of the common