Michael Saylor tells investors when Strategy's Bitcoin no longer covers its debt

MicroStrategy’s "HODL" era is over. After a staggering $8.22 billion net loss, the company has pivoted to "active management," even selling 1,690 BTC to cover obligations. Their survival now hinges on a "baseline" assumption that Bitcoin will return 10% every single year. If it doesn't, their debt becomes undercollateralized, exposing a massive risk on the balance sheet. Is banking a company's solvency on a guaranteed 10% annual Bitcoin return visionary or just reckless? What’s your take?
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