I'm all for lightning and mints and ecash or whatever replacing traditional banking.
However I'm not convinced yet that all that tech works at scale.
I have no idea how this works out, but it seems to me that for current banks to survive they will need their own Bitcoin strategy or sell to MSTR to get on the new financial network. And maybe it's just a temporary hybrid centralized implementation of Bitcoin, but it could last long enough to make high MNAV well worth it.
so i think MSTR MNAV works because there are examples in nature of what appear to be "perpetual motion" that are just taking advantage of certain characteristics like:
ram hydraulic pump
by using a siphon and periodically restricting the flow, it's possible to pump water uphill while a lot more water falls lower down hill.
since a lot of capital is happy with a much lower performance than bitcoin in their MSTR convertible bond exposure, they are the water falling farther down hill and in turn they pushing a small volume of water (aka Bitcoin per share) farther up the hill into the hands of the shareholders.
