MSTR’s dilution treadmill: why selling five stocks to buy Bitcoin screams Ponzi

MSTR’s “All-You-Can-Dilute” Buffet: When Buying Bitcoin Looks Like Selling You

Saylor sold more stock to buy more BTC—again. When your “Bitcoin strategy” needs five tickers and endless dilution, it isn’t innovation. It’s a treadmill. Bitcoin-first means own the asset, hold your keys.

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