I Created a Microstrategy Model for anyone wondering how the "flywheel" effect of borrowing fiat to buy Bitcoin works.

I found it hard to assess how much Bitcoin MicroStrategy had to buy to make the stock premium worth it, so I built a model where we can plug in variables for a bunch of different scenarios (change the yellow highlighted boxes). You can ignore the large brick of data unless you're curious about it.

Please let me know what you think and if you notice any errors or blind spots.

How much do you guys think MSTR will be buying annually over the next several years? 5% more? 10% more? So far this in 2024 I think it's at about 12%.

What is a fair Market Cap:NAV ratio? It's currently around 2.52.

Ps. The only way to anonymize the doc was to publish it so that means you have to download it but then can change whatever you want.

Thanks!