MicroStrategy issues another 21 billion to buy BTC, has already lost 4.2 billion but continues to double down!

MicroStrategy's recent actions can only be described as extreme. On one hand, it issues stocks to buy 69,045,747,696, while on the other hand, it pledges the Bitcoin it purchased to continue financing, and then further issues stocks... This is no ordinary FOMO (fear of missing out); it resembles a 'left foot stepping on the right foot flying technique,' constantly drawing circles in the air. As long as Bitcoin keeps rising, no one can expose this. But the problem is, the market never follows the script.

From this financial report, in the first quarter, due to the decline in Bitcoin prices, the company recognized a loss of 4.2 billion dollars, equivalent to a loss of 16.49 dollars per share. At the same time, MicroStrategy announced a plan to launch a 21 billion dollar common stock issuance to continue buying BTC, raising the BTC yield target from 15% to 25%, and increasing the revenue target from 10 billion to 15 billion directly—this can’t be called anything other than 'doubling down on faith'? But the issue is, their asset volatility essentially depends entirely on BTC, and their core business has long been submerged by virtual asset investments. To some extent, it's no longer a software company but a leveraged 'pseudo-ETF' Bitcoin position operating under the guise of a listed company.

69,045,747,696

23,029,974,844