Is MSTR a ticking time bomb?

Convince me why this wont happen. Claude says:

If BTC keeps dropping, MSTR stock drops harder. When MSTR is down, Saylor can’t sell new shares or preferred stock at good prices to raise cash. But the ~$1.2B/year in preferred dividends still has to be paid regardless. So he’s forced to sell BTC to cover them. Selling 4%+ of total BTC supply into a weak market pushes BTC down further, which tanks MSTR more, which makes the next round of fundraising even worse. Each loop tightens the next one.

He already broke the “never sell” rule on June 1 with 32 BTC. The convertible bond puts hitting in late 2027 and early 2028 could demand $3-4B in cash on top of the dividends, accelerating the whole thing.