OK, fine, that wasn't the original title; I took some liberties.

His shares in bitcoin hoarder Strategy may have fallen in the nearly two years since he bought them, but plastic surgeon Ben Stong is unbothered. The doctor believes that “the market doesn’t understand” the US company, which has spearheaded aggressively raising money to buy bitcoin, but whose shares have plunged dramatically.

Oh, I think it understands just fine; the big question is why it for months in the summer misunderstood the treasury companies and valued them at 2-3-5-10x their bitcoin holdings (#1356919, #1407381)

"For diehard retail investors, Wall Street’s scepticism of Strategy’s business model is irrelevant and overblown. They are hoping to be proved right in 2026.""For diehard retail investors, Wall Street’s scepticism of Strategy’s business model is irrelevant and overblown. They are hoping to be proved right in 2026."

I guess it's more comfy to be in outsider/rage-against-the-machine mode?

Yup:

Strategy’s success in becoming the world’s largest corporate holder of bitcoin began largely thanks to an army of retail traders buying its shares and trumpeting its success, often looking for an easy way to make supercharged bets on the price of bitcoin.

Hashtag pump-and-dump (ooooor?! #1406899)

In fairness, it's pretty tragic that this FT journalist has to quote a "podcaster from Idaho" to make her case...

...but I mean, setting up your interview subjects like this... ugh, how juicy

Retail investors’ belief in the company relies on the hope that the price of bitcoin will rebound in 2026, defying detractors. “Everything else is basically gambling and the one true asset that will survive time is bitcoin,” said Stong.

archive misbehaving: https://archive.md/iUzjD