>>60884934
>First
Terms stated they could change the terms in the interest of the company. You're not being diluted as a common shareholder as long as issuance is when mNAV ≥1.
>Second
If you don't believe bitcoin will have a terminal CAGR ~20% then it's a issue. All the 'debt' is based on this assumption and centred around providing yields of ~10%. 20 is greater than 10, MSTR captures the arbitrage. A bear market makes no difference for a company sitting on billions in BTC and literally decades of worth of collateral.
Do you know how leveraged they are?
Also this made me kek:
>when BTC stops going up
It's going up forever, Laura.

>>512541514
They've set up the treasury now to weather a Bitcoin bear market. They're something like 7-10x over collateralised for the preferreds with currently 120 years of dividend payments covered by assets, even if BTC drops 90% they can still cover ~20 years of payments. The preferreds will always be in demand because of the high yield so even during a down period like you describe they could sell preferreds to cover dividend payments and/or buy back MSTR stock if it dropped in value. They're phasing out the convertable debt over the next 3 years.
It's not a ponzi scheme, if they're buying BTC. A ponzi scheme would be them holding just the fiat money and using it to pay new investors. BTC will increase in value against fiat long-term. That's the arbitrage. If you know BTC will go up forever then the model works. It all depends how much it goes up. a 30-50% CAGR will make Strategy the largest company in the world in the next few years. Don't say I didn't warn you.

>>512289129
If you get an IBKR account you can buy STRD which if you buy now is yielding ~11.8% annually, about 10% after US taxes.
https://share.google/c3mDOhdsZYDM8o1EI
Trading 212 haven't listed Strategy's preferred stocks for some reason.

Let's talk about Strategy's perpetual preferred stock
>STRF
Current effective yield 9.2%, top of the capital stack, more secure than US bonds.
>STRK
Current effective yield 7.4% with potential for upside if MSTR common stock moves higher.
>STRD
Current effective yield 11.6%, junk bond, more risk but more reward.

They've also just launched STRC, a variable rate perpetual preferred stock engineered to act like a stablecoin with ~9% yield.
Why aren't you using these as your savings vehicle?

>>510293342
>cgt
You could have been hodling $MSTR in a S&S ISA
I swear there's so many low-IQ mongs in this general it's unreal.

Hope you lads bought MSTR like I've been telling you to

Strategy is going to be the most valuable company in the world and out-perform BTC (and all other assets) in the next decade.

>>60483932
>Not mortgaging your house and investing it all in MSTR
ngmi

I hope you've all invested your entire life savings in MSTR, or at least one of their perpetual stocks, because it's going to the moon.