The post Mike Alfred Dumps MSTR for Strive; Sees $1M BTC by 2033 appeared on BitcoinEthereumNews.com. Mike Alfred slams Strategy Inc.’s debt model, calling its valuation a “fairy tale.” He disclosed a 1.66 million share stake in Strive, citing a better structure for BTC exposure. Alfred forecasts Bitcoin will hit $1 million by 2033, driven by US political support. Investor Mike Alfred has issued a sharp critique of Michael Saylor’s Strategy Inc. (MSTR). In a new interview, Alfred argued that the company’s aggressive use of preferred stock debt effectively renders its Net Asset Value (NAV) “irrelevant.” He described the valuation model as a “fairy tale” due to the dilution risks faced by common shareholders. Why Alfred Dumped MSTR for Strive’s Treasury Model Alfred, a board member at Bakkt and IREN, disclosed he has exited his MSTR position entirely. He reallocated capital to Strive, purchasing 1.66 million shares. Strive currently holds 7,525 BTC. Alfred cited Strive’s cleaner capital structure as the primary driver for the switch. “If you structure many securities in a company, all of these things sit on Bitcoin. The heavier the weight of those things, the less the idea of Bitcoin per share really matters,” Alfred noted. Saylor Defends Leverage: ‘Built to Withstand 90% Drop’ In his defense, Saylor has noted that the company is heavily backed by highly liquid creditors. Most importantly, Saylor noted that Strategy will remain operational even if the Bitcoin price drops 80-90%. Related: Bitcoin ‘Cycle Fracture’ Raises Fears Of 2026 Drop Toward The $30000 Zone Furthermore, Strategy only needs Bitcoin price to rise by 1.25% per year to pay shareholders dividends indefinitely. Additionally, Saylor noted that the company would have 80 years to figure out its next move if the Bitcoin price were to record consecutive zero gains per year. The $1 Million Outlook: Political ‘Goodwill’ and AI Alfred is more bullish on Bitcoin treasury companies than BTC itself… The post Mike Alfred Dumps MSTR for Strive; Sees $1M BTC by 2033 appeared on BitcoinEthereumNews.com. Mike Alfred slams Strategy Inc.’s debt model, calling its valuation a “fairy tale.” He disclosed a 1.66 million share stake in Strive, citing a better structure for BTC exposure. Alfred forecasts Bitcoin will hit $1 million by 2033, driven by US political support. Investor Mike Alfred has issued a sharp critique of Michael Saylor’s Strategy Inc. (MSTR). In a new interview, Alfred argued that the company’s aggressive use of preferred stock debt effectively renders its Net Asset Value (NAV) “irrelevant.” He described the valuation model as a “fairy tale” due to the dilution risks faced by common shareholders. Why Alfred Dumped MSTR for Strive’s Treasury Model Alfred, a board member at Bakkt and IREN, disclosed he has exited his MSTR position entirely. He reallocated capital to Strive, purchasing 1.66 million shares. Strive currently holds 7,525 BTC. Alfred cited Strive’s cleaner capital structure as the primary driver for the switch. “If you structure many securities in a company, all of these things sit on Bitcoin. The heavier the weight of those things, the less the idea of Bitcoin per share really matters,” Alfred noted. Saylor Defends Leverage: ‘Built to Withstand 90% Drop’ In his defense, Saylor has noted that the company is heavily backed by highly liquid creditors. Most importantly, Saylor noted that Strategy will remain operational even if the Bitcoin price drops 80-90%. Related: Bitcoin ‘Cycle Fracture’ Raises Fears Of 2026 Drop Toward The $30000 Zone Furthermore, Strategy only needs Bitcoin price to rise by 1.25% per year to pay shareholders dividends indefinitely. Additionally, Saylor noted that the company would have 80 years to figure out its next move if the Bitcoin price were to record consecutive zero gains per year. The $1 Million Outlook: Political ‘Goodwill’ and AI Alfred is more bullish on Bitcoin treasury companies than BTC itself…