Loaning against Bitcoin or MSTR, if the value of Bitcoin / MSTR goes below value of loan, do they threaten liquidation? So need to provide money (margin call) to stop liquidation. Thats how it would work right?

If lots of people in the future loan against bitcoin, and all this info is public then there might be an incentive for whales to push price down and liquidate people so creditors can take the bitcoin. Incentive for getting hands on more bitcoin will be extremely strong in the future once people realise how unique of an asset bitcoin is.

Same would apply to MSTR too. Obviously volatility higher for MSTR because its already leavered.

This already happens in stocks and other financial trading. When leverage becomes too big then there is deleveraging by forced liquidation on people that can't meet their margin calls.

I'm definitely weary, yeah loan against small % of portfolio, increase cash flow but stay resilient to any manipulation.