According to Wu Blockchain, Arca's Chief Investment Officer Jeff Dorman tweeted that the current situation with MSTR is out of control. He speculated that Michael Saylor issued billions of dollars in preferred shares based on the belief that BTC would see a significant price surge, allowing future BTC sales to cover the preferred share dividends. However, after BTC's price dropped, the market became concerned about the $15 billion in preferred shares requiring $1.5 billion in annual dividends. MSTR then raised $2 billion in cash through stock financing to ease short-term default concerns. Jeff Dorman pointed out that MSTR later used the cash buffer to repurchase bonds maturing in 2029 instead of paying the annual dividends, a puzzling decision for a company with cash flow issues. He believes this marks the first time MSTR, BTC, and preferred shareholders are truly in a bind, and one party is likely to suffer significant losses within the next four months. https://(wublock123.com)/news/arca-cio-mstr-btc-preferred-shareholders-in-limbo-61840