# Microstrategy ($MSTR) • Michael Saylor is founder the Chairman of the Board at Microstrategy • Informational Asymmetry • Risk/Reward Asymmetry • Best performing stock of 2024 • The market values $MSTR as a BTC Holding Company - Valued should be one times Net Asset Value. • Microstrategy is a Bitcoin Treasury Company * **Leveraging Bitcoin Holdings**: Microstrategy ($MSTR) capitalizes on its perception as a Bitcoin holding company to strategically finance its operations and enhance its Bitcoin reserves. Through mechanisms such as At-the-Market (ATM) stock offerings, issuing convertible bonds, and selling preferred stock, it raises funds efficiently. A portion of these proceeds is used to acquire additional Bitcoin, while the remainder helps increase cash reserves. This strategy maintains a low debt-to-market cap ratio and increases Bitcoin per share holdings, mitigating dilution effects from new stock or convertible debt issuances. This process causes $MSTR stock to get bid up as Bitcoin's price increases. • $MSTR is a leveraged investment that should return a multiple of Bitcoin's return. If the stock price goes down significantly, $MSTR could theoretically do stock buybacks for lower dollar amounts than they sold their stock. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://xponentialfinance.gitbook.io/xponential-finance/investments/stocks/microstrategy-usdmstr.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.