Is MicroStrategy in trouble again? Strategy (STRC) tanked right at the opening of the U.S. stock market tonight. Official price: $100, but it hit an intraday low of $86, with a 14% discount! This isn’t normal volatility anymore—this is the market voting with real money: ❌ Increasing dividends can no longer support the price ❌ Investors are starting to worry about risks ❌ The market is questioning its financing model The bigger issue is: If they keep raising interest rates to attract funds, financing costs will keep climbing. If they don’t raise rates, the price might continue to depeg. So, what’s next? Here’s what I think is the most likely scenario: Strategy is forced to sell part of its Bitcoin reserves Reduce leverage Ease market concerns about its debt repayment and financing ability STRC dropping from $100 to $86 is essentially the market saying: People are starting to doubt how much longer the “infinite Bitcoin leverage” story can hold up. Now it’s up to Saylor to see if he’ll pull out a new big move.