$STRF's undervaluation is obvious. It boasts 10% preferred stock with quarterly dividends and strong corporate governance, including penalties for late dividend payments, priority in its capital structure, and a 9x coverage ratio at the spot price. Bitcoin's price would have to fall below $10,000 (based on current holdings) to be harmed, and even in the event of an apocalypse, MSTR will acquire more Bitcoin through ATM sales of STRC and common stock. Furthermore, its price has significant upside potential as institutional investors realize that $STRF's risk is far lower than implied by its S&P B- credit rating. For example, if they were willing to accept a 7% yield, STRF could trade at $143.