Is MicroStrategy’s Bitcoin Flywheel Facing Its First Real Stress Test?

For the first time in its history, MicroStrategy (MSTR) is seeing its share price premium detach from Bitcoin’s performance. These changes are happening amidst the growth of Bitcoin (BTC) proxy plays, with MicroStrategy, now Strategy, being the largest corporate holder of the pioneer crypto. MicroStrategy’s Premium Breaks From Bitcoin The divergence raises questions about the sustainability of Michael Saylor’s financial model. Additional concerns include whether new entrants in the Digital Asset Treasury (DAT) market are eroding the company’s unique role as Wall Street’s gateway to Bitcoin source: https://beincrypto.com/is-microstrategys-bitcoin-flywheel-facing-its-first-real-stress-test/