The need for Saylor to raise more capital in order to continue to buy more BTC is understandable but also frightening. This is because if MSTR does not sell sone of the BTC in the treasury, tgere is no other cash on hand to pay the promised 11.5% dividends to STRC holders. 

So essentially, he is paying dividends from new capital he has been raising. How is this not a ponzi? 

Strategy may be forced to sell more Bitcoin, Grayscale warns

Michael Saylor’s Strategy has faced growing pressure to sell additional Bitcoin after a recent share price decline raised concerns about the sustainability of its financing structure, according to a new report from Grayscale Research.Grayscale warned that Strategy may be forced to sell more Bitcoin if weakness in STRC increases cash flow obligations.The firm said lower STRC and MSTR share prices could restrict Strategy’s ability to raise capital for additional BTC purchases.While Grayscale expects Bitcoin to recover, Standard Chartered believes Strategy will resume aggressive Bitcoin accumulation.Grayscale Research said the company’s ability to keep expanding its Bitcoin holdings has become more constrained as prices of both MSTR and STRC shares have fallen. The warning follows Strategy’s sale of 32 BTC, a move that drew attention because Saylor had spent years publicly arguing against selling Bitcoin.The current bearish market conditions could also limit Strategy’s capacity to issue n
Strategy may be forced to sell more Bitcoin, Grayscale warns
# Bitcoin New Low, Strategy Sells: Hedge or Buy the Dip?

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