Despite the criticisms and market fluctuations, MicroStrategy continues to play a significant role in Bitcoin's corporate adoption.

However, this aggressive strategy has drawn criticism from figures like Peter Schiff, who highlighted a decline in MicroStrategy's share price and a significant reduction in its Net Asset Value (NAV) premium.

Schiff also pointed out that shareholder dilution has drastically reduced the premium on the company's Bitcoin reserves by 85%.

The convertible notes, which have a 0% coupon, are due on March 1, 2030, and can be converted into shares at a premium over the current stock price.

On February 24, 2025, MSTR shares closed at $282.76, reflecting broader market trends impacting both the stock and cryptocurrency.

In response to Schiff's criticisms, a Bitcoin enthusiast argued that the premium on MicroStrategy's stock is actually around 77% based on their Bitcoin holdings, challenging the claim of an 85% collapse.

This recent Bitcoin purchase was financed through a market-based equity program and a fully subscribed $2 billion convertible note.

MicroStrategy has made headlines by acquiring an additional 20,356 Bitcoins for approximately $1.99 billion, bringing its total holdings to 478,740 BTC, valued at over $44 billion.

Despite co-founder Michael Saylor's claims of a Bitcoin yield of 6.9% in 2025, MSTR's stock value has decreased by 6% during the same period.

The premium reflects the market's valuation of MicroStrategy compared to its Bitcoin holdings, with a high premium typically indicating trust in the company.

As of February 25, 2025, Bitcoin was trading at $92,098.54, down 4.18% in the last 24 hours, while MSTR shares fell 2.21% in after-hours trading after a 5.65% drop during the regular session.