Michael Saylor announced another $500m Bitcoin purchase. But his growing $381 mil dividend bill will send $MSTR, $STRC and all others - to ZERO. I dug into Strategy balance sheets, IT revenues, expenses, cash reserves, BTC holdings, mNAV, and shareholder dilution. Plus i checked $STRC/ $STRK price performance, margin call risk, and how Strategy became a leveraged Bitcoin play in 2021. Timestamps: 0:26 – The beginning of MicroStrategy and the dot-com bubble pump 1:25 – STRC, STRD, STRF, STRK overview 1:48 – Preferred vs. common stock, and why Strategy doesn’t issue bonds 6:41 – Flagship product: STRC. Digital credit 8:31 – How to find how much money Strategy makes from its IT business and its expenses 11:40 – How much Bitcoin they hold and its current value 12:45 – Additional cash reserves 14:52 – Digital Asset Treasury and mNAV 17:07 – Common shareholder dilution reports 20:13 – How Strategy became popular during the 2021 crypto boom and turned into a leveraged Bitcoin play 23:22 – “Laser-eyed” Michael Saylor and the rise of Bitcoin maxis 26:49 – STRC and STRK price performance 29:19 – Companies in the past that issued debt and bought assets 30:10 – Strategy margin call 31:21 – Michael Saylor’s business practices during the dot-com era 33:13 – Conclusion