Michael Saylor is back on his bullsh*t.

While the rest of corporate America is busy getting bricked up over whatever tune Nvidia is singing, or figuring out how to tighten their belts without hemorrhaging headcount, Saylor just successfully raised $427 million in a week… on a weekend, no less, and did what he always does: he bought more Bitcoin. 4,020 more, to be exact. That brings MicroStrategy’s total stash to 580,250 BTC, which is either a masterclass in conviction or an SEC case waiting to happen, depending on how Bitcoin trades next week.

(Source: Giphy) 

In short, Saylor went guerrilla-mode with at-the-market (ATM) offerings of MSTR common shares and two flavors of preferred stock: STRK (8% annual yield) and STRF (10%). Translation: This is high-yield bait for investors with more risk tolerance than serotonin. MSTR pumps the shares directly into the market, bypassing the usual Wall Street theater, raises liquidity, and funnels it straight into Bitcoin. “Hedging or diversification? Never heard of it…”-- Micahel Saylor, probably. 

And before some Bitcoin maxi chimes in with “bUt It’S Up YoY,” yes… Bitcoin is currently trading at $109,531 at the time of this writing. But there’s still the minor issue of him having borrowed billions to fund this addiction. Some of it is debt. Some of it is equity. All of it is riding on the hope that Bitcoin doesn’t do what it’s historically been known to do: crash 70% without warning and take the weak hands… and occasionally entire companies… down with it. 

(Source: The Street) 

The absolute best part about this? Is that he keeps saying there’s no “margin call”. Meaning, he’s basically structured the debt to avoid immediate liquidation, but ignores the fact that the moment BTC tanks, the company’s equity holders are the ones holding the bag. And now there are preferred shareholders in the mix, who think they’re getting 8–10% annually while the underlying asset is a speculative token that makes Trump’s ‘ALL CAPS’ volatility look like a risk-free T-bill. 

In fact, Peter Schiff, has already called this suicidal. if Bitcoin crashes, Strategy loses billions and possibly ceases to exist in any meaningful way. Saylor’s response? “I only buy Bitcoin with money I can’t afford to lose.” That’s a legit X post he posted. Who in the hell keeps giving this guy money? Now again, the ATM strategy (selling shares directly into the market) lets Strategy avoid traditional debt, but it also dilutes shareholders in real time. It’s financial engineering with all the subtlety of a smash-and-grab. The only reason this doesn’t get lumped into the same bucket as FTX is because Saylor hasn’t been caught doing it on leverage with customer funds. Yet.

(Source: Giphy) 

What’s insane is that the market keeps rewarding him for it… which only encourages more buying, more dilution, and more exposure to a single asset that’s still illegal in multiple countries. Meaning, when this ends, and it will, because all one-direction trades do… nobody gets to say they weren’t warned. Saylor is betting his entire existence on Bitcoin. He’s said it out loud. Repeatedly. Saylor isn’t wrong for doing it, either. He’s just out of his mind. Until next time, friends…

Stocks.News does not hold positions in companies mentioned in the article.