Benchmark believes MicroStrategy's business model justifies the premium to NAV and that traders should keep an eye on the company's BTC yield. Bitcoin Yield, introduced by Thaler and his team earlier this year, measures the effectiveness of Bitcoin investments by measuring the change over time in the ratio of MSTR's Bitcoin holdings to its fully diluted number of shares. track. Bitcoin yield was 17.8% through September 19, compared to 1.8% and 7.3% in 2022 and 2023, respectively, according to benchmark data.
