Understanding how Microstrategy outperformed Bitcoin is essential to the LSTR-LEO question.
From July 2020 to July 2025, MSTR delivered an approximate total return of 3,352.9%.
Over the same July 2020 to July 2025 period, Bitcoin returned approximately 1,118.4%.
LSTR is having revenue streams built into them. This is where the outperformance will come from.
Yes exactly
Revenue is the key
Over time, LPS will continue to rise and this means that the exponential exposure to LEO Price Performance will increase
It also means volatility increases on LSTR and all LSTR derivatives. This allows the @leostrategy market maker protocol to harvest volatility as revenue and buy more LEO, adding to LPS and further feeding the flywheel
Microstrategy does this at scale
Pack the treasury with $LEO.
!vote