Has Michael Saylor's Strategy built a house of cards?

Strategy Inc. , formerly MicroStrategy, has discarded its core product, assumed a new identity, swallowed over half a million BTC, spawned equity classes with double-digit yields, and inspired an arsenal of leveraged ETFs —  a unique and significant market phenomenon. Michael Saylor’s firm has constructed a comprehensive financial framework based around Bitcoin, tying its corporate performance directly to the cryptocurrency's price fluctuations. As a result, Strategy's common stock has evolved into a proxy for Bitcoin exposure, its preferred shares offer yields tied to cryptocurrency risk, and a series of leveraged and inverse ETFs now track its equity movements, all fundamentally connected to its substantial Bitcoin holdings source: https://cointelegraph.com/news/michael-saylor-strategy-house-of-cards?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound