Yes but how he uses the ATM is what matters. On both the downside and upside he can issue a digital $BTC dividend (say, 1% rights to $MSTR ‘s Bitcoin holding) to shareholders, cause a short squeeze since short sellers will have to pay back a non-cash dividend and then do the ATM. 

It literally cannot fail, no matter if there is a -75% drawdown or not. People don’t understand this.
#BTC #MSTR