Perhaps... I would say you just may be heavily underestimating the effects the next typically severe bear market could have on MSTR's appeal as a derivative of a disappointingly performing commodity.

There's not much point to quibbling over what is ultimately unknowable, though.  Suffice it to say, I would be perfectly happy if the mania continued until the heat death of the universe - BTC coming along for that ride is good enough for me.