MicroStrategy (MSTR) recently acquired 390 Bitcoin (BTC) at ~$111,053 per BTC, bringing their total holdings to 640,808 BTC acquired at an average of ~$74,032 per BTC. The reported "BTC Yield" of 26% YTD for MSTR is misleading; it represents the difference between BTC's YTD gain (+18%) and MSTR's YTD loss (-8%), implying MSTR has underperformed BTC itself. Investors should be aware that MSTR's stock performance has lagged Bitcoin's price appreciation, despite its substantial BTC holdings.