“Strategy is going bankrupt.” Peter Schiff just said this today. Saylor’s response? He already gave it two months ago: “You can’t pay a dividend on preferred stock that would create an insolvency event.” Translation: preferred stock does not force bankruptcy. If Strategy can’t pay the dividend without becoming insolvent, the dividend gets suspended. That’s it. But here’s the part people keep missing: “If Bitcoin goes up 2%, we can pay the dividends forever.” If you don’t think Bitcoin can average 2% a year, why are you even looking at preferred equity in a Bitcoin company?