Saylor turned Strategy into a perpetual-motion machine that “prints shares” to buy Bitcoin—issuing bonds, buying BTC, the stock price rises, then issuing more bonds, buying more BTC…

This machine only has two outcomes:
BTC rockets to the sky: Saylor is deified, MSTR becomes the most successful financial high-wire gamble in history, and business schools will use his case to teach for 100 years~
BTC sees a deep pullback: debt pressure triggers forced liquidation; liquidation drives the coin price down; the coin price drags the stock price down; the stock price crushes the debt—death spiral, straight-down collapse, more brutal than any bear could ever dream of~
Back then, Grayscale was also the biggest bull, and in the end it became the bear market’s biggest dumping machine~
Everyone who bets on MSTR needs to be crystal clear: you’re on a ship with no lifeboat, and the captain says the destination is the moon~
#TR #BTC