Market commentators are discussing a potential mismatch in MicroStrategy's financial model regarding its massive Bitcoin holdings. Concerns have been raised that the company's disclosed numbers—specifically $54M in cash versus $700M/year in preferred dividend obligations—could pose sustainability issues over the next 90 days. While the firm holds over 3.2% of all Bitcoin in existence, the liquidity analysis suggests a need for careful cash flow management to service its debts. This perspective challenges the purely bullish narrative surrounding the company's aggressive accumulation strategy.