New Delhi, June 29 -- "We're gonna need more charts."

CoinDesk reported that Strategy's unrealized loss alone exceeds the market capitalization of hundreds of individual cryptocurrency tokens. It sits alongside a financing structure that has grown considerably more complicated than the simple "buy and hold" thesis Saylor has spent years articulating in public.

The mechanism Strategy uses to fund Bitcoin purchases runs through three channels: at-the-market equity sales of its Class A common stock, perpetual preferred stock instruments, and convertible notes. In the first quarter of 2026 alone, the company raised $7.37 billion through ATM equity offerings. Another $4.32 billion followed between April 1 and May 3. The convertible note pile...