Companies emulating MicroStrategy’s Bitcoin investment strategy are under fire for potential financial instability, especially as companies like GameStop follow a similar debt-funded approach. While the Bitcoin market continues its upward momentum, concerns arise from Galaxy Digital CEO Mike Novogratz’s caution about the hype surrounding these strategies. He believes that the surge of interest in balance sheet-driven Bitcoin investments might be inflated and warns of potential financial risks when relying on borrowed funds for such purchases. Novogratz points to GameStop’s recent $1.75 billion funding round as a prime example, mirroring MicroStrategy’s approach, but with heightened scrutiny.