Caution on debt accumulation, advocate for deleveraging

I never care about MSTR's earnings reports because the software business is meaningless, and Bitcoin's revaluation has no impact on the financials. I mainly focus on how many convertible bonds are issued and how much STRC with interest payments is being issued. I have always believed that MSTR should not have any debt. Market funds will be tighter next year; if the debt scale cannot be controlled, it will still be targeted by short sellers. Why bother? If you want to buy coins, just use ATM shares (it’s profitable as long as MNAR > 1). I strongly recommend that in the coming year, Saylor should use ATM proceeds to fully repurchase outstanding STRC and convertible bonds. Fortunately, MSTR has recently started significantly repurchasing STRC. @saylor