Strategy is now more like a Bitcoin hedge fund than a passive accumulator. Globally there’s ~10 hedge funds with an AUM above $50B, so there’s an extremely limited amount of money managers even capable of running this much size.
Considering Strategy is already in the hole with an unrealized loss of ~$16 billion and has yearly obligations of over $1 billion, plus they're limited to trading a single asset, there’s likely not a single money manager on Earth who could recover this position without suffering major losses. Saylor and his team certainly won’t be the ones to do it.
“Michael Saylor basically said he’s going to treat Microstrategy like a hedge fund. Buying lows, selling highs. I think this company is so brutally set up for failure, it’s not even funny. They’re basically a hedge fund but they don’t have the corporate structure of a hedge fund, and they can only trade one asset."