https://twitter.com/princeofthef4ll/status/1957996975405638080
MicroStrategy’s entire business model in one chart: a reflexive loop that only works if BTC keeps rising.
When this Ponzi loop inevitably implodes, it’ll make FTX, Enron, and Madoff look like ants. pic.twitter.com/Ov4zsT88Gr
— Jacob King (@JacobKinge) August 20, 2025
BITCOIN
Below 111,800, and it's game over! pic.twitter.com/RIc1L2DGVf
— The Great Martis (@great_martis) August 19, 2025
A Ponzi of a Ponzi. People have no idea how quickly this will unwind. https://t.co/azakyhzXhZ
— Financelot (@FinanceLancelot) August 20, 2025
The company booked $5.91 billion in crypto losses in Q1 alone. It got a $1.69 billion tax benefit, but still expects a net loss. It didn’t buy any Bitcoin during the April dip. The last purchase was $1.9 billion for 22,048 BTC. That’s not caution. That’s timing failure. https://www.morningstar.com/news/marketwatch/20250407138/microstrategy-booked-billions-in-losses-on-bitcoin-and-prices-have-fallen-more
They’re doubling down. Filed to raise $4.2 billion through a stock offering to buy more Bitcoin. “MicroStrategy remains one of the most well-known public companies holding Bitcoin… its decision to treat Bitcoin as a reserve asset continues to shape its overall business direction.” https://www.thecoinrepublic.com/2025/08/09/microstrategy-mstr-stock-post-earnings-release-bearish-tale-persists/
The stock fell 14.7% in the past month. Underperformed every peer. “Strategy is the world’s largest bitcoin treasury company… holding 3% of all bitcoin in existence.” https://www.zacks.com/stock/news/2736062/strategy-falls-15-in-a-month-hold-or-fold-the-mstr-stock