mstr today's closing market value is 46.5 billion USD

holding 671268 BTC with a market value of about 58 billion USD

mstr currently has 8.2 billion USD in bonds

7.6 billion USD in preferred stock

Calculated, mstr's premium has nearly completely disappeared

which means that if you buy mstr at 86000u now

it is roughly equivalent to buying 1 BTC

but due to mstr's own debt impact

mstr's volatility is about 2-3 times that of BTC

Conclusion: buying BTC is not as good as buying mstr

BTC at a 10% discount and then volatility x2