It's a bloc of shareholders collaboratively holding half a million Bitcoin on leverage using some random software company as a vehicle.
I don't think they have the same problems as ftx.
Discussion
I find their strategy interesting. I'm skeptical of some of the derivatives, but I'm not a bond expert so WTF do I know?
The main problems I would like Microstrategy to solve are:
1. Transparancy
They need a proof of reserve.
2. Cybersecurity
Outsourcing your bitcoin Cybersecurity to Coinbase is not ideal, but I think companies like AnchorWatch make this problem easy to fix.