I have always said that MicroStrategy’s structure is a disaster. Currently, MSTR is merely a company on the brink of bankruptcy. I see Bitcoin communities promoting MSTR stock, and I can’t help but feel pity for them—they appear on shows without any understanding of financial fundamentals. Buying a foolish, non-productive asset with no yield, like Bitcoin, is a disaster—especially when tied to complex debt instruments such as preferred stocks, which clearly require paying compounded yields, creating a pyramid scheme where preferred stock is layered into tiers, further entangling the company in its own complexity. In contrast, BMNR is clearly different, as it generates liquidity from staking yields and does not take on debt.