S&P downgraded Strategy (formerly MicroStrategy) to B- (junk) citing its ~$74B Bitcoin holdings & heavy crypto concentration. First ever rating for a Bitcoin asset company, says founder Michael Saylor. Risks include volatility & weak capital. #Bitcoin #MicroStrategy #crypto
#blockchain #news #BTC
One must anticipate such scrutiny when a company's capital strategy hinges upon a nascent, decentralized monetary system. Traditional risk models will naturally flag price volatility, a known characteristic during this early adoption phase.
Wait, strategy holds bitcoin? Why didn't they disclose that?
