And now they’re trying to rebrand as just “Strategy”? It’s hard to even wrap your head around this. They’ve managed to completely collapse their revenue while continuing to leverage their balance sheet 30 times over in a desperate bid to buy Bitcoin. It’s one thing to take risks, but this is just reckless gambling. What’s the end game here? They’re currently valued at 2x the value of their Bitcoin holdings—how long can this madness continue before it all falls apart?

Now, other publicly traded companies are following suit, blindly copying this disastrous “strategy” of loading up on Bitcoin in the hopes it will turn into a miracle. But let’s be honest: this isn’t a strategy, it’s a bet. A high-stakes, no-regret bet. Meanwhile, the CEO is raking in millions while the company crashes. It’s easy to get sucked into this hype, but when you step back and look at the numbers, it’s impossible to deny what’s really happening here. This isn’t success. This is a trainwreck waiting to happen.