TL;DR
Full Story
Body Snatchers (1993):
A teenage girl and her father discover alien clones are replacing humans on a remote U.S. military base in Alabama.
Body Snatchers (2024):
A 59 year old man and his software company discover Bitcoin, which then swallows his entire business model, in a remote town in Virginia.
…
MicroStrategy ($MSTR) is in a weird spot.
Sure, it’s technically a software company — but a large portion of its market cap is thanks to the fact that it owns ~190,000 Bitcoin (~$9.74B).
So much so that the narrative around the stock is “buy $MSTR to get exposure to Bitcoin” — instead of “buy $MSTR to gain exposure to the profits of its software business.”
Just look at the correlation between $MSTR’s stock price, and Bitcoin:
