It's very clear to me that @IvanOnTech @coffeebreak_YT and @nic_carter haven't done their number crunching on MSTR and STRC. Let me explain what's going on, why this won't break, and why this inevitably pushes BTC higher. To do this, lets understand first that the "amplification" of MSTR is currently around 35%. Let's round this to 1/3. What this means is that MSTR has 2 parts BTC on its balance sheet for 1 part pref+debt. Now MSTR currently has about 800K BTC. How could they acquire another 800K? Well lets just assume they did this at exactly this price (around 70K). That would mean spending 56 Billion on Bitcoin. But if they did this by splitting it into 2/3 MSTR ATM and 1/3 STRC, the amplification does not change. It's still 33%. So in theory, this can be done if things stay unchanged. But now lets assume BTC prices double over the next few years. In this case, even after paying interest, the amplification now goes to 1/6 (the denominator doubles). In this case it's wildly profitable for MSTR shareholders. The debt is insignificant relative to the new price of the BTC. On the other hand suppose BTC prices halve and stay there. In this case, MSTR pauses the dividend. Not ideal, but not terrible either. That means they have to stop the accumulation program. But so what? When BTC inevitably picks up, the program kicks back into gear. I think @Z06Z07 will understand this. The bottom line, this pushes BTC much higher in the next few years.