Odaily Planet Daily News Analyst Jacob King describes MicroStrategy's Bitcoin-centered business model as a 'massive scam', believing it to be unsustainable and destined to collapse. King states that MicroStrategy's strategy of issuing bonds to purchase Bitcoin is a 'giant Ponzi scheme'. He explains that the company's model relies on a feedback loop: issuing debt or equity to purchase Bitcoin drives up the coin's price, which in turn increases MicroStrategy's market value. A higher valuation enables the company to raise more funds, allowing further Bitcoin purchases. King warns that the entire cycle depends on the continuous rise in Bitcoin prices. King adds, 'When Bitcoin stagnates or crashes, the whole structure will collapse.'