To be fair, I did not realize they converted the 2025 bonds to equity already - that’s my mistake but it’s even worse. So they’ve already really overpaid for and eliminated their book gain from the $10k priced BTC. So then this desperate yield bearing perpetual offering 10% compounding, on a company that is 6x its asset value and negatively losing money, also has no near term use case. You have to work towards the 1B 2027 debt, while paying this off. 🤷‍♂️ I love how the MSTR cultists were like “haha got you!” But it actually makes the decision of launching this new yield asset even dumber and more desperate 🤣