⚡️ MicroStrategy & Michael Saylor — new risks
📉 BTC purchases have slowed down — only 585 BTC in the last weeks.
💸 Fresh capital is needed for new purchases → issuing shares and debt, which dilutes shareholder equity.
📊 Since November: MSTR shares -22%, BTC +23%.
🏦 Competition from ETFs and other companies is increasing.
⚠️ Main risk: MicroStrategy is turning into a "BTC fund" with high debt load, relying on investor inflow.