How does $73MM equal $2.1BPlease correct me if I am wrong but when MSTR started buying Bitcoin in Aug of '20 their stock price was around $145. Today it is $370 an increase of approx. $225. With 9.5MM shares outstanding that is a market cap gain of approx $2.1B. The underlying business in between remains reasonably static with minimal to no growth. Since Aug '20, they have purchased 152K coins at an average $29,803. Today these coins are worth $30,285. That is a total gain of $73.3MM. Nice, but hardly worth $2.1B in market cap. I recognized they had an equity raise at higher levels and they structured some of their bitcoin linked debt at attractive levels. Both these factors are positive and worth some incremental market cap. But that incremental market cap is worth no where near $2B. Where does the extra value come from? Maybe Bitcoin will go to $100K maybe it won't, I frankly don't know. Either way it seems like if you are bullish you are paid better to buy the underlying as MSTR seems like an ineffcient vehicle to represent Bitcoin. Am I missing something here?