Saylor knows that in two years Bitcoin will most likely be north of $150k, and these price levels will become unlikely to revisit again.

Then the game is over.
All Strategy has to do is stay solvent, and they already have 24 months of dividend coverage and have proven to the market they can raise a billion in a depressed market (yes, we’re in a bear market).
Even the first convertible note is still trading at a premium to par, even as the stock has declined 85%.
The company’s raising $500M a week to pay a $50M dividend obligation. So does he care they are overpaying a dividend by 1-2%.