If people want something to panic (sell) about its the fact that Michael Saylor is using Debt to enter his Bitcoin position, if for any reason Bitcoin does not maintain its trajectory it could force Michael Saylor to liquidate, and the price to rapidly decline to Pre-MicroStrategy Prices.

Reply to this note

Please Login to reply.

Discussion

No. You’re incorrect. 100% of the debt is unencumbered. There will not be any forced liquidations.

Their debt-to-assets ratio is like 20% too, so even if it wasn’t unsecured debt, they are by no means irresponsibly levered.