Being bullish on $MSTR means you believe Bitcoin’s long-term returns will outperform Strategy’s cost of capital.
Being bearish on $MSTR means you believe Bitcoin’s returns won’t be strong enough to beat that cost over time.
Both views are reasonable because nobody can predict the future with certainty.
At the end of the day, that’s the core debate. Most of the other arguments and overcomplicated explanations are just distractions from the main point. 📈📉