It will. They continue buying bitcoin and at this rate, IMO, will be greater than or equal to $1000 when BTC is 4 trillion in market cap. Which would put their current holdings and current average cost at an estimated $80 billion dollar value.
I think it will, eventually. But it may take a significantly higher btc price to get there.
Recent price action is not great, and I say that as someone who owns it and is bullish on crypto.
What is concerning is how it’s beginning to decouple from BTC. During the run-up, gains and losses were both roughly 2x leveraged BTC. Now, it’s gaining 0.5x btc on up days and declining 2x to 3x btc on down days. I don’t mind downside, that’s called volatility. What I don’t like is the decoupling from btc since what I’m bullish on is BTC not MSTR. MSTR is just a form of exposure to BTC.
Right now the price action is more similar to a bitcoin miner like $MARA than a leveraged bitcoin play like $BITX
I’m hoping this changes soon, but it is incredibly annoying.