MSTR's Puzzling Valuation
why is the company worth twice its holdings?
Microstrategy was one of the biggest bombs of the Internet bubble, losing almost its entire market cap. It has reinvented itself, however, quite successfully, as a de facto Bitcoin hedge fund. The stock has done exceptionally well over the past couple of years.
Bitcoin is virtually the entire value and purpose of the company, as they have issued many ten…
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