Michael Saylor, founder of MicroStrategy (MSTR), has clarified the company's core metric, "Bitcoin Breakeven Annual Recurring Revenue" (BTC Breakeven ARR). Saylor explained that this metric is often misunderstood, and its essence lies in the company's ability to sustain dividend payments indefinitely through Bitcoin capital gains, provided Bitcoin's annualized appreciation consistently exceeds 3.3%. According to a chart shared by Saylor, even if Bitcoin's annual return were 0%, MicroStrategy would still have sufficient funds for dividend payouts for 31 years.

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