When you're the biggest corporate bitcoin holder on the planet, your strategy becomes everyone's case study. Buying massive amounts of BTC with borrowed money? That's bold. But here's what doesn't get talked about enough: leverage cuts both ways, especially when you're dealing with an asset that can swing 20% in a weekend.

The real lesson isn't about whether accumulating bitcoin is smart or reckless. It's about what happens when market dynamics shift and you've got debt obligations staring you down. Volatility isn't just a number on a chart—it becomes a liquidity problem real fast when you've borrowed big to stack sats.

Some call it visionary. Others see a ticking time bomb. Either way, it's a masterclass in how corporate treasury management meets crypto-native risk. The playbook looks genius in a bull run, but those interest payments don't care about four-year cycles.