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Strategy investors should watch \'amplification\' not just bitcoin holdings

Investors assessing Strategy’s investment risk should look not only at bitcoin prices or the premium to net asset value but also at an \'amplification\' metric that reflects its capital structure, a report said. The metric compares the size of debt-like capital, including total debt and preferred shares, with the scale of bitcoin holdings. Higher amplification makes common shares more sensitive to bitcoin moves and raises overall risk, with amplification currently near 33 percent.