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Conversely, the headline could also read: "Bitcoin Treasury: 3 out of 4 companies worth more than their coins".

Well, it just depends on how you want to influence opinions.
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@Bonus
Yes, of course.
I don't want to talk anyone out of investing here.
I just want to point out the risk of a bubble.
I personally have none of that.
But I like the people here in the community.
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@Tenbagger2024 I've never understood why I should pay a premium for Strategy when I only want to hold Bitcoin. And the premium was sometimes really expensive. Legal entities can also invest in BTC directly without the detour. In fact, I tend to believe that the business case no longer works. However, it will be more interesting if the ratio slips below 1. Will stocks then be thrown onto the market to maintain liquidity? Will there then be a domino effect? Keyword leverage ...
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@Tokugawa
Ratio <1 does not trigger sales, this only affects the share valuation.
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@Savvy_investor_2000
Forced sales only occur when bonds mature and $MSTR has no cash, not when the market price is trading below NAV.
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@Savvy_investor_2000
And as long as Bitcoin rises in the long term, the business model remains intact. A NAV discount is short-term market sentiment, not a break in the model.
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