{"type":"rich","version":"1.0","title":"Jose Sammut wrote","author_name":"Jose Sammut (npub1yj…svhk7)","author_url":"https://nostr.now/npub1yj69jq9f977y2f7vl96m6stf3rjyf3hym8ekf3g4senlqamz8l3qfsvhk7","provider_name":"njump","provider_url":"https://nostr.now","html":"OK, so if BTC rallies to two hundred something thousand, MSTR cost basis is ~150k, and then a bear market starts and they decide to \"buy the dip\" with more debt pushing cost basis even higher to try and prop up BTC, and all of a sudden you start getting FUD pushing price lower... \nNow the 2026/27 maturities are coming up, you've got margin calls and forced liquidations up your ass and you've popped the bubble. \n\n\"Investors panic\" is a problem if you're raising money through debt. You cannot tell them to suck it up like you can to shareholders. "}