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Strategy’s Bitcoin Flywheel Could Slow Under Pressure Strategy holds 840,447 BTC, but a new report says capital markets access remains its key vulnerability. The company carries roughly $22 billion in debt and preferred claims against its Bitcoin holdings. It also faces about $1.76 billion in annual interest payments and preferred dividends. The report says Bitcoin could fall roughly 96% before its holdings stop covering convertible notes. The bigger concern is whether Strategy can keep raising capital during a prolonged market downturn. If financing becomes expensive, the company could eventually rely more heavily on reserves or Bitcoin sales. Source: Cointelegraph
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