It accretes in dollar value which is the unit of account of the dividends. That's the only math that needs to check out. It's not a linguistic problem. 

If you say the shareholders don't have claims to the underlying then basically you're against the stock market as a whole. To me it seems that most people who got rich owned some kind of business whether public or private. It's been working rather well for the last couple of hundred years.

bitcoingraffiti

Stacker_Stocks

Strategy needs to pay $689M a year to not sell bitcoin

0xbitcoiner

Small point:  Bitcoin doesn't accrete.  Accrete means to 'grow by accumulation or coalescence'.  Bitcoin just rises in nominal USD terms as the currency is devalued. 

Big point:  the market is realizing BTC per share doesn't matter.  MSTR shareholders have no claims to the underlying, and Microstrategy will never realize gains (they have stated they never plan to sell their BTC), so 'btc per share' is, at best, a song and dance.  Microstrategy will also continue to issue common stock to fund their dividends in perpetuity - a disaster for MSTR holders.

This is coming from someone who held a sizeable MSTR position up until recently.  Look out below.
