People rightly point out the fact they don’t control the keys.

OK, but they have exposure to the price of Bitcoin and if it runs how might that influence the rest of the market?

It’s not an accident that Saylor structured his debt to extend out past the next halving. If we see new all time highs in the next couple years how many boards will be looking at this strategy? How many pension funds?

How many pension funds already have exposure to Bitcoin through Capital Group, Vanguard, and BlackRock and their investments in MicroStrategy?

The last time I looked at the largest shareholders I don’t remember Capital Group on the list. I wonder when they started buying and I wonder if the BlackRock LDI UK pension crisis last fall had anything to do with this investment?

This is an interesting factoid on Wikipedia.