If Strategy buys half as much Bitcoin next year as they did in 2025, they'll end with ~800k BTC.
If Bitcoin enters its true bull phase due to QE and increasing acceptance and it ends at $200k...
The 1x mNAV price for MSTR will be in the ~$540 range.
Hopefully with more prefs being issued we'll see more amplification on top of that, maybe enough to the point where the market rewards it with a multiple on top of that.
Perma-bullish on Bitcoin and Strategy as you all know, but I really like the entry here