only that they do not have any BTC, just Coinbase IOUs.
So when Coinbase will crash, MSTR will became... nothing too.

only that they do not have any BTC, just Coinbase IOUs.
So when Coinbase will crash, MSTR will became... nothing too.

It won't affect us, only MSTR shareholders.
At this point, even if Saylor lost his coins, they would not give up on Bitcoin—they would have to start stacking from zero all over again.