MicroStrategy Faces Investor Backlash
The firm scrapped safeguards on stock sales, igniting fears of dilution and increased Bitcoin-linked risks.
Safeguard Removed on Equity Issuance
The company can now sell stock regardless of valuation, abandoning its 2.5x mNAV threshold.
Investor Confidence Shaken
Critics accuse Saylor of breaking promises, prioritizing “flexibility” over protecting shareholders.
Bitcoin Volatility at Center Stage
The policy change could amplify risks as MSTR’s fortunes remain tightly bound to Bitcoin’s price swings.
Credibility on the Line
Supporters see strategic agility, but skeptics warn the move undermines trust in MicroStrategy’s leadership.