I don’t disagree. However, Saylor himself said they were close this last bear and had to move some Bitcoin around. Additionally, you can see a 700 BTC sell around that time (12/22/22). Just putting 2 and 2 together.

Borrowing to buy (converts is still a form of leverage). I’m not 💩 it. Just pointing out it still takes planning.

https://youtu.be/k7XhzXMSAPo

https://treasuries.bitbo.io/microstrategy/