42% of $MSTR capital deployed in 2025 is debt. $7.6B out of $18.2B total. That is the LEVERAGE in a Leveraged Bitcoin Equity, and is the arbitrage available to LBEs that are able to achieve scale. Failing to attack fixed income markets in size means eventual irrelevance to the Speculative Attack that LBEs represent.
The market has trusted us with another $18 billion for purchasing $BTC so far this year.
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