MSTR is the most misunderstood company today:

- The market thinks it’s a BTC holding company overpriced at 2x its btc value.

In fact, it’s a capital investment company, growing at 72% btc/share ytd, mispriced and trading at a price that is essentially risk free (you will easily get the investment back in 2-3 yrs).

- The market thinks a balance sheet must be a cash equivalent that keep losing value. “It’s just cash sitting there, what can you value that at, 1x? 2x?”. What the market doesn’t get is that BTC is not cash, it’s a scarce asset. The key difference is: you can leverage it and use it as collateral.

They think BTC is some kind of money you would like to use to buy coffee. 

- Even *seemingly* smart or accomplished people are saying it’s a ponzi. 

They don’t get that when you have something scarce and valuable you can get a loan for it, and buy even more of that scarcity. 

And they don’t get that Bitcoin is just as guaranteed to go up as Manhattan is, because it’s scarcity in a sea of infinite fiat.

- I think MSTR is twice as misunderstood as Bitcoin. The more misunderstood, the higher the returns.