Strategy's STRC preferred was never as safe as a money market fund, and if both STRC and MSTR share dilution fail, the only way left to pay dividends is selling bitcoin. Believing STRC would stay at par forever while paying a junk-like 12% was financial illiteracy; per @betirement, it has now fallen below $90. Strategy says its bitcoin reserve gives it 32 years of dividend coverage. x.com  x.com 

STRC, the preferred stock tied to Strategy, is a Ponzi-like structure that will be Strategy's downfall unless it is shut down. The structural problem cannot be fixed while it exists, and management's stubbornness risks a massive loss of confidence in Strategy. If Strategy sells bitcoin to cope, lower bitcoin prices could follow in a vicious cycle. As long as STRC exists, believers in bitcoin should just own bitcoin. x.com  x.com  x.com 

Strategy is building kinetic energy by using its STRC preferred as gunpowder to corner the marginal demand for scarce bitcoin, and it seems to be working. The divergence between MSTR and bitcoin since STRC launched on July 30, 2025, highlighted in a post the author replies to, is no surprise: the two securities will never move linearly or in tandem. x.com 

Strategy's funding machine is breaking as its STRC preferred trades far below $100 par, threatening a death spiral. STRC pays about 11.5% and lets Strategy buy bitcoin only while near par; at a new low of about $82, issuance stops, yet cash dividends are still due. Cash has fallen from $2.25 billion to about $1 billion, and Strategy sold 32 BTC in late May to cover STRC obligations. Higher payouts mean more bitcoin sales, which hit bitcoin's price and confidence, pushing STRC lower again. x.com 

Strategy is in the worst possible position, with Michael Saylor now down $13.7 billion, about 20%, on its bitcoin bet. STRC needs money to be rescued, and selling bitcoin to fund it would hurt both bitcoin and Strategy badly. Only a sudden sharp bitcoin rally looks able to save it. x.com 

Strategy is attracting some of the world's largest fund managers because they want Bitcoin exposure. Their buying supports the bullish case for MSTR as a listed vehicle for institutional Bitcoin demand. x.com 

Strategy is turning to selling bitcoin to rescue its troubled STRC preferred program, which points toward bankruptcy. It launched a Bitcoin Monetization Program that lets it sell BTC to fund operations, per Watcher.Guru, and the news sent the preferred up 10%, meaning it would sell bitcoin low to support STRC high. x.com 

Strategy is a disclosed Ponzi that is now unwinding, with much more downside ahead and an eventual path to zero. As bitcoin-treasury hype fades, raising money to keep the scheme going gets harder, while interest costs keep accumulating on instruments such as its STRC preferred. That liquidity drain is what will take Strategy down. x.com 

Daily STRC dividends advance Strategy's Bitcoin financing machine. Shareholders approved the payments, and Strategy's Bitcoin printer is unstoppable. x.com 

Strategy is a scam, though a brilliantly executed one, built on bitcoin, which is itself a liquidity decoy. Michael Saylor sold about $496M of MSTR under an equity compensation plan ending in April 2024, around the SEC's Grayscale approval, effectively dumping bitcoin on the masses near $60K. He does not care about "never sell"; he ran a pump and dump in the 1998-2000 bubble and was fined for accounting fraud, but this time is fully legally covered. x.com  x.com  x.com  x.com  x.com  x.com