🚨 MICHAEL SAYLOR'S STRATEGY: A Bitcoin crash can't force Saylor to sell. Running OUT OF CASH can.

Strategy holds 843,706 BTC, 4% of all the Bitcoin that will ever exist, and NONE of it is pledged as collateral.

So how does the machine BREAK?

1. The dividend drain. Strategy OWES about $1.7B a year in payments it can't skip. Its cash reserve has fallen to $871M. That's six months of runway.

2. The loop tightens. STRC trades at $94.65, under its $100 par. That trips Strategy's own rule: below $95, raise the dividend rate by 50bps or more. A higher rate means bigger payments, which drain the reserve faster. The fix makes the hole deeper.

3. The cash calls. Bondholders CAN demand $4.5B back, and they'll want cash, not stock. The notes convert at $183, $433 and $672. MSTR isn't close to any of them. $1B in Sept 2027. $2B in March 2028. $1.5B in June 2028.

Trigger 1 ALREADY fired. They sold 32 BTC in late May to cover a dividend, the first sale in four years.

A company with billions in reserve doesn't do that. A company down to $871M does.

Trigger 2 is live right now. Trigger 3 is 15 months out.

This was never a margin call risk. It's the cash they're LEGALLY on the hook for.

Do you still believe in the Saylor method?

$BTC
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