BSE Return stands for $Bitcoin Standard Equity Return.

- It is used to measure the appreciation in a stock's value since the company adopted a Bitcoin Treasury strategy, rather than simply looking at short-term stock price fluctuations.
For example, regarding MSTR: while an investor looking only at the past year would see a 78% loss, an investor who held the stock since the company began implementing its Bitcoin Treasury strategy (in 2020) would have achieved a total return of approximately 597%.
In other words, BSE Return does not represent the return on a Bitcoin portfolio itself, but rather the return on the stock since the company shifted to the "Bitcoin Standard" model.