🚀The name Strategy is associated with one thing: buying bitcoin. But behind that narrative is a software company that reinvented itself as the largest corporate accumulator of BTC in the world.

📈Michael Saylor's strategy seems simple: issue debt or shares, use that capital to buy bitcoin, and repeat the cycle while the price goes up.

🟠Today the market celebrates that infinite wheel. But if bitcoin stops rising, that premium disappears. And without a premium, issuing shares to continue buying becomes a problem. If the cycle breaks, what today seems like genius could turn into a swan.