Roundtable Publisher and CEO, James Heckman, and Mario Nawfal, sought clarity from MSTR Executive Chair, Michael Saylor, on the company's aggressive Bitcoin approach. Heckman admitted, "I was certainly confused a year ago," and asked Saylor to explain why investing in MicroStrategy might make sense over buying Bitcoin directly.

"MicroStrategy is the largest public company holder of Bitcoin," Saylor began. "Nearly all of our market cap is levered to Bitcoin itself." He emphasized that while Bitcoin has a volatility ("vol") of about 50, MicroStrategy has "levered that up by 20 to 30%," resulting in higher volatility and potentially higher returns.

This strategy has attracted a diverse group of investors. "We've attracted options traders that want to trade the vol," Saylor said. "We have issued debt; we're the primary issuer of Bitcoin-backed bonds." He noted that for those looking to buy bonds against Bitcoin, "we're the only ones selling them in size."

Highlighting the company's performance, Saylor stated, "MicroStrategy outperformed all 500 of the S&P 500 companies over the last four years, including Nvidia. We're up a thousand percent." He attributed this success to their focused strategy: "We stay in our lane, and our lane is we are long levered Bitcoin, and we think that's enough."

After, Nawfal asked about adding Ethereum to the portfolio, Saylor doubled down on his point, underscoring the importance of commitment and clarity. "They want to know what we're going to do and that we're committed to doing it," he said. "That's the respectful way to manage the public markets."

By maintaining a singular focus on Bitcoin, MicroStrategy aims to provide investors with a clear and reliable investment option in the cryptocurrency space.

Watch the rest of Mario's interview with Saylor here: Part 1, Part 2, Part 3