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
显示更多