Treasury Flywheel Extends

Investors treat the $19.5 billion quarterly profit as validation of Strategy’s bitcoin-treasury model, especially with bitcoin above $85,000 and ETF inflows still strong. The stock’s premium to bitcoin net asset value holds or expands as markets expect additional capital raises and coin purchases.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.