According to online reports, Joe Burnett, director of strategy at Bitcoin treasury company Semler Scientific, wrote on the X platform,"Comparing the B-credit ratings of MSTR and JBLU, we are gradually clear that the pace of Bitcoin's integration into the traditional credit system is still in its early stages. JetBlue's B-rating reflects the fragility of its operations: nearly $9 billion in debt, only $2 billion to $3 billion in equity, and almost no free cash flow. Its assets are mainly aircraft, hangars and loyalty programs, which are illiquid assets and are affected by fuel prices, labor costs and consumer demand. By comparison, Strategy has $72 billion in bitcoin,$8 billion in long-term convertible debt and $7 billion in preferred stock. The company has significantly overcollateralized assets that are globally tradable, settled in minutes, and have no counterparty risk. This comparison is thought-provoking. JetBlue's balance sheet relies on metals that depreciate and consume oil, while Strategy's balance sheet relies on scarce digital capital that appreciates over time. Credit rating agencies have not yet fully kept pace, but when Bitcoin is recognized as the world's best mortgage asset, it is clear that Strategy is not speculative credit, but one of the safest companies on earth."