mstr closed today with a market cap of $46.5 billion Holding 671,268 BTC valued at approximately $58 billion mstr currently has $8.2 billion in bonds And $7.6 billion in preferred stock Basically, mstr's premium has almost completely disappeared. In other words, if you buy mstr at $86,000 now, It's roughly equivalent to buying 1 BTC. But due to mstr's debt impact, mstr's volatility is about 2-3 times that of BTC. Conclusion: Bottoming BTC is not as good as bottoming mstr. A 10% off BTC with 2x the volatility.