Since August 7th 2022, the mNAV against diluted shares for $MSTR has collapsed from 1.67x to 0.77x. Despite the premium compression... CAGR since then: MSTR: +33% Bitcoin: +29.5% So despite the "OMG DILUTION" and despite shareholders losing more than HALF of their valuation multiple, MSTR still beat Bitcoin. Brutal fact for the MSTR bears!
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