Anyway Strategy is currently struggling.
With Bitcoin trading at ATH, they are barely up on the day, and by far below their ATH.
NAV multiplier is trending lower.
Good for the long term, actually.
This is expected on a shorter time frame
Investors are buying the shares of other treasuries company since they are relatively cheaper and Would give more gains.
Some are shorting MSTR and longing Bitcoin (yeah quite a balance)
But in all they are short term until the market balance and people reduce their risk taking and head to safer Basket.