Microstrategy managed to mention Bitcoin 831 times throughout their 124 page report to shareholders

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by 2ndSifter

Saylor goes balls to the walls in this one with nearly 7 mentions per page. This company has more outstanding convertibles than a car dealership next to an army base, and probably thinks a sinking fund is just another name for the Titanic.

The amount of cash they have on hand might be enough to cover a night out at Dave & Buster’s, but would cover only about 1/10th of their current liabilities. They may say they sell software, but it sure is hard as hell to find.

I’m trying to wrap my head around how the class A of a tech equivalent of a mattress store is trading at $1,204 per share and a generous PE of 46. I would be even more confused if I weren’t so impressed with the Shakespearean wordsmithing it took to fit that many Bitcoin references into that amount of pages.

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If you own MSTR please pitch your justification of the valuation to me like I’m 5, because after reading more into their balance sheet and operations that’s just about how many brain cells I have left.