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Today's Summary

The miracle of valuing the companies stock far higher than its bitcoin holdings came unglued. The vacancy rate jumped to 37% in 2025, from 10% in 2024. Bob Moser is founder and CEO of Prime Group Holdings. We discuss his early career in real estate, and his current holdings. Strategy has spent roughly $54.4 billion to build the position, including fees and expenses. Firm now holds nearly $50 billion in Bitcoin, but its holdings are worth less than the firm spent on them.