My Concerns about MSTR

I'm still bullish BTC and crypto.

But, I've read too much financial history to not feel skepticism about $MSTR right now.

Positive reflexivity due to intelligent financial engineering and leverage always ends badly.

What happens when there's an 80% drawdown in BTC? This is extremely common in the 15 year arc of Bitcoin's history.

1. Sharks short MSTR

2. Unpaid loans convert into equity

3. Equity becomes increasingly worthless

4. Sharks continue to short

5. Who's going to bail out MSTR? No one probably.

Saylor is Icarus right now, and he better come back down to the water lest his wings start to melt.

@yoshi_eth2 is modeling the unwind. Follow and Subscribe so you don't miss when I publish it.

H/t @juanpadulanto for the screenshot from @loch_chain platinum