Bitcoiners love to over-analyze
Why is MSTR ripping higher than bitcoin?
CONVENIENCE.
Discussion
Yup.
Not everyone can buy ibit or BTC directly.
No fees to own and it rips and dips twice as hard so the gamblers love it.
LEVERAGE
Nope - 250,000 bitcoin have way more value than 250,000 x 63000 ..
Why - because if someone tries to stash 250 K btc today , the price will rise to one million per bitcoin ... So ... mstr is way underpriced if you are convinced bitcoin is future ...