Sorry, in the end I got distracted with work and I didn't even make my actual point:

Even if you can somehow turn 25k into 105k in 5 years, it's still better to do it by borrowing fiat at a much lower cost. Borrowing BTC never makes any sense at all based on Saylor's own base case.

I admit it may be me missing something. That's why in my original note I said I found Saylor's explanation unclear.