The most fascinating thing about MSTR is that, like BTC, it systematically shorts fiat.
Is STRC a Ponzi? Absolutely, a snowball of debt where non-interest-bearing assets can never pay off interest-bearing notes.
Will a Ponzi scheme collapse? Of course, there's nothing new under the sun.
So, will MSTR collapse? Not necessarily.
MSTR just needs to ensure its Ponzi snowball rolls slower than fiat currency, or in other words, that everyone else is floundering, but MSTR's floundering is slightly less than fiat currency's, and that's enough.
In the long run, we're all dead.
Enjoy the Ponzi.
Rug the FIAT.