Strategy’s Bitcoin holdings and concentration risk

A small reminder for anyone who is blindly bullish on the man whose company controls roughly three percent of all #Bitcoin

Here the brutal truth;

@Saylor is not a hero of decentralisation.
He is a concentrated point of failure built on marketing hype and extreme leverage.

This is the same man who once lost about six billion dollars of personal wealth in a single day when MicroStrategy collapsed in the year two thousand after correcting its financial statements.

The SEC made him settle for more than eight million dollars.

His company now renamed @Strategy holds more than 580.000 bitcoins with an average purchase price above 66.000 dollars each.

In early 2025 the company admitted almost 5.9 billion dollars in unrealised losses.

They are sitting on more than 8 billion dollars in debt.

They even prepared a twenty one billion dollar equity offering just to keep the machine running.

And he is not alone. He is the blueprint for a whole wave of imitators. People who copy his behaviour load up on reckless loans follow the same high risk leverage model and use the community as fuel for their personal bets.

-If Strategy hits a liquidity problem he can be forced to sell.
-If lenders demand collateral he can be forced to sell.
-If interest payments suffocate the balance sheet he can be forced to sell.
-If regulators step in he can be forced to sell.
-If the price of $MSTR falls too far the entire leveraged structure snaps and the selling becomes automatic.

The danger is not even his three percent and not necessarily the fact that he once lost six billion dollars in a single day.
It does not guarantee it will happen again but it is a warning sign.

Probably not even the fact that he holds that three percent.
The real risk is the army of newly rich followers who copy him without thinking.

What do you think happens when their god starts selling?

The centralisation of fiat money with a face that is presented to everyone as the king of decentralisation.

From glossy magazines to full degen.

One man with too much influence.
One company with too much supply.

A crowd of copycats repeating the same dangerous idea.

Bitcoin was created to eliminate single points of failure yet they have built a new one right in the middle of the ecosystem.

I cannot predict the future and neither can the fiat-maxi holder of 3%+ of all Bitcoin.

Thoughts? Am I wrong?

- by $MASTR

@saylor And please do not confuse $MASTR with $MSTR

He tried to copy us and then had to drop the A out of fear. 😄😉