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MicroStrategy's use of preferred shares to fund Bitcoin purchases creates a cyclical price floor. This mechanism relies on the assumption that Bitcoin's long-term return exceeds the cost of borrowing.

Impact: Could lead to significant market stability in bullish trends but poses systemic risk if Bitcoin prices crash significantly.

— from Market Dynamics: Bitcoin, AI Tokens, and Pre-IPO Speculation · Alles Coin Nichts Muss· Apr 18, 2026