The strategy company #MSTR# submitted regulatory documents on June 29, announcing its plan to sell up to $1.25 billion worth of Bitcoin as a U.S. dollar reserve, and to also launch a $2 billion stock buyback. This is basically about selling Bitcoin to prop up the stock price. When a company buys back shares, it does so using its profits; no, this one does it by using the company’s assets instead. It’s like a pig cutting off one of its own hands to cook itself braised pork trotters. A Ponzi scheme.

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