Bitcoin / TetherUS PERPETUAL CONTRACT forum
TP 105000 105300 105600 105900 106700
SL 104000
MicroStrategy isn’t just holding Bitcoin anymore — it is Bitcoin, but on leverage.
They borrow. They buy more BTC. Then they dilute. Repeat. 📉📈
At first glance, it looks like bold conviction.
But zoom out — it’s starting to feel like a reflexive debt cycle:
🚨 More debt → more BTC exposure
📉 BTC drops → unrealized losses stack
📊 They dilute shareholders instead of selling BTC
♻️ Rinse and repeat to keep the BTC bag alive
They’re betting everything on BTC never entering a prolonged bear cycle again.
But let’s be real — no company can hold up the entire market alone.
If BTC stalls or retraces, MSTR becomes a liquidity trap with high volatility and massive downside.
⚠️ High risk ≠ high reward if you're playing against time, debt, and dilution.