Susie Ward, CEO of Bitcoin Policy UK, has criticized Michael Saylor's promotion of STRC, a perpetual preferred share offering an 11.25% dividend, labeling it "dishonest" for not fully disclosing the associated risks. Speaking at the BTC Conference in Prague, Ward expressed concerns over Strategy's approach of using leverage and equity dilution to accumulate bitcoin, suggesting it could pose systemic risks. Ward, a bitcoin advocate and Strategy shareholder, warned that such financial strategies might damage bitcoin's reputation by associating it with "fiat games" and likened some projects to meme coin pump-and-dump schemes. Her comments highlight ongoing debates about the sustainability and transparency of bitcoin treasury strategies.