MicroStrategy Stock Seen as 'Overvalued Bitcoin Proxy' Trading at 91% Premium

MicroStrategy (MSTR) is essentially a bitcoin holding company trading at a 91% premium to its bitcoin holdings
MSTR uses its longstanding analytics software business to generate cash flow to accumulate more bitcoin
The company embraces its bitcoin focus, stating it is the "world's first bitcoin development company"
The proposed trade involves shorting MSTR stock while going long an amount of bitcoin equal to MSTR's holdings per share
This pairs bitcoin exposure while betting the high MSTR premium to bitcoin value will decrease over time