Michael Saylor on Why $MSTR Trades Above Bitcoin NAV

According to Michael Saylor, MicroStrategy ($MSTR) trades at a premium to the net asset value of Bitcoin due to four main advantages. These include superior institutional access, since equities and credit markets are more accessible to large investors than commodities; options advantages, which give traders flexibility; passive flows from index and ETF investments; and credit amplification, which increases returns through leverage. These elements, in Saylor’s opinion, make $MSTR more than just a Bitcoin holder; rather, it is a vehicle that increases exposure, draws in additional capital, and offers strategic advantages that are unmatched by direct BTC ownership.