Michael Saylor's - Strategy (aka. MicroStrategy) Playbook — Genius or Gamble?

🔥 Strategy holds 845,256 BTC — but Bitcoin is now trading BELOW their average cost basis. What happens next?

Michael Saylor transformed a struggling software company into the world's most audacious corporate Bitcoin experiment. Now rebranded as "Strategy," the company has accumulated nearly 850,000 BTC through aggressive capital raises, including a $42 billion ATM offering program.

But here's the twist: Bitcoin currently trades around $63,000, while Strategy's average cost basis sits at $66,384 per BTC. The stock premium that once reached 4x net asset value has collapsed to just 1.2x. The stock is down 61% over the past year.

Join us as we break down:

• 📊 The numbers: 845,256 BTC, $66,384 average cost basis, ~$56B deployed
• 📉 The current reality: Bitcoin trading below cost basis, compressed premium
• 💰 How the $42B ATM offering works (common + preferred stock)
• 🔄 The 13-week buying streak that paused in March — and what it means
• ⚖️ The bull case: Long-term Bitcoin adoption, first-mover advantage
• ⚠️ The bear case: Leverage risk, premium collapse, potential dilution
• 🔮 What this means for corporate Bitcoin treasury strategy

Free entry. RSVP required. on Luma -> **https://luma.com/sm94ub5t**