Jeff Park, head of strategy at Bitwise Alpha, posted on the X platform that some people believe that Microsoft should not buy bitcoin to bolster the balance sheet, saying that it will distract them from their core business, but they ignore a key understanding of modern equity: a modest allocation of BTC will make a business like a golden armor, much stronger than any available financial engineering, this strategy will make it harder to short stocks, give the balance sheet more tail upside in the index trend, and if you believe in BTC, you will understand that Bitcoin actually provides one of the largest long-term cost of capital arbitrage opportunities, especially if you have 70 billion dollars of cash sitting idle. Even allocating 1-5% of BTC will not cause shareholders to worry about losses (nor will it affect the volatility of their multiples), but there will be asymmetric financial upside, board members who do not understand this fiduciary responsibility will not stay in this world for long, and equity is just "return on capital" and does not need to be overcomplicated by injecting personal interests.