MicroStrategy issues another 21 billion to buy BTC, already losing 4.2 billion and still doubling down!

MicroStrategy's recent moves make the term 'overzealous' seem too mild. On one hand, they are issuing more stock to buy $BTC, and on the other hand, they are using the purchased Bitcoin as collateral to continue financing, and then issuing more stock again... This is no longer just ordinary FOMO (fear of missing out), but rather 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 it. But the problem is, the market will never follow 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, equivalent to a loss of 16.49 dollars per share. At the same time, MicroStrategy announced a plan to launch a common stock issuance of 21 billion dollars to continue buying BTC, raising the BTC yield target from 15% to 25%, and the revenue target from 10 billion directly skyrocketing to 15 billion—does this not called 'increasing faith'? But the problem is, their asset volatility essentially relies entirely on BTC, and their core business has long been drowned out by virtual asset investments, to some extent, they are no longer a software company, but a leveraged 'quasi-ETF' Bitcoin position operating under the guise of a listed company.