“The market is worried that a company that purchased >150,000 $BTC in the last year might have to sell 1,500 $BTC per month to cover the debt incurred to buy that 150,000.” This is called “petitio principii (begging the question).” You’ve assumed a priori that: (1) $MSTR is a ponzi that is going to blow up. (2) The market is dumping in an attempt to “price in” that implosion. So you end up tying yourself in illogical knots to explain why a market that trades 700,000 $BTC per day cares about 50 $BTC per day of theoretical selling pressure in which it would take ten years simply to break even on the BTC acquired year to date. Pure innumerate hysteria.