MicroStrategy: The Life and Death Game of the World's Largest Bitcoin Whale



【Plain Language Guide】MicroStrategy (now Strategy Inc.) holds 670,000 BTC, accounting for 3.2% of the global total, transforming from a software company into a Bitcoin reserve entity.

Its model leverages stock premiums, issuing ATMs, perpetual preferred shares, and the “42/42 Plan” to raise $84 billion in financing to increase Bitcoin holdings, creating a flywheel effect. Rumors of selling coins are false; they are actually wallet rotations, with continued buying.

Software business losses rely on financing. Risks include MSCI index removal, NAV premium compression, and debt pressure, testing its Bitcoin financialization strategy.

For more details, see:
BTC-0.13%
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