The reality is that eventually MSTR will need to settle some of its debt, and make monthly and quarterly dividends on its prefs. It’s ok, their charter does allow sales. The main idea is accretion, and eventually folks are going to trade on second derivatives of that fluctuation too (eg: “BTC yield” yield).

I suspect it will come not as a failure on MSTR but a failure on a bank - a bank will require more prime collateral (BTC) and to “save the banking system” will have to convert a huge amount of its own debt capital notes (to other banks but mostly jd) to Bitcoin. Saylor will be a considered a savior of an old tradfi player.

There is many more letters available for novel financial tickers. Fiat debt is infinite. Bitcoin is 2.1q