MicroStrategy's business model is indeed impressive. It's simply a ruthless money printing machine. No wonder so many DAT companies imitating MicroStrategy appeared last year. Saylor revealed on CNBC that they sold $1.5 billion worth of stock last week. They only used $500 million worth of BTC as collateral. Then immediately dumped all $1.5 billion into BTC to buy coins. Net arbitrage of $1 billion in "free" Bitcoin! The core principle is to take advantage of the market's premium on MSTR stock. The market has driven MSTR stock far above the actual value of the Bitcoin the company holds. Because everyone is betting that BTC will continue to rise + Saylor will crazily hoard coins. Saylor is taking advantage of this "overvaluation premium." Low-cost "prints" huge cash from the stock market. Then dumps it all into buying more Bitcoin. The company instantly gains a large amount of "free" BTC. Creating an infinite loop—printing money, buying coins, stock price skyrockets again! ...