Michael Saylors Bitcoin-Stapel ist offiziell unter Wasser, aber aus diesem Grund wird er wahrscheinlich nicht nach dem Panikknopf greifen
https://www.coindesk.com/business/2026/01/31/michael-saylor-s-bitcoin-stack-is-officially-underwater-but-here-s-why-he-likely-won-t-reach-for-the-panic-button
11 Kommentare
It’s not his money
He is a f**king Billionaire, not like other degen Bitcoin treasuries who pretend to understand Bitcoin. He won’t sale just because price has dropped. More heavy busy are coming
Is it just bots reposting this garbage over and over?
Saylor is fine. Bitcoin would have to crash down to almost nothing for him to be liquidated but everyone and their mother would be buying before it got to that point anyway.
So shut the fuck up already.
> Strategy can extend maturities (roll over its debt), convert debt to shares when they come due. Note that the first convertible note put date isn’t until the third quarter of 2027.
I don’t think the author fully understands how the convertible notes work and how dangerous they are for Microstrategy.
Microstrategy can NOT choose whether to extend maturities or convert that debt. That’s not their decision; it’s the customer’s. No rational customer would buy a convertible note if the issuer could simply renege on the contract.
**For example, for the $672.40/share notes expiring in 2029**, the customer is allowed to choose up to 1 year ahead (in 2028):
1. If the price of MSTR is below $672, the customer will ask for Microstrategy to pay them $672/share
2. If the price of MSTR is above $672, the customer will ask for Microstrategy to convert the bonds to MSTR shares.
If MSTR is under $672, Microstrategy will lose money on this deal. It’s not their decision.
Honestly for someone who has been in Bitcoin since early 2020, it’s embarrassing how high his average cost basis is.
to yall who are saying that he will do the right thing…..he has bankrupted multiple companies before arriving at microstrategy.
here’s another fun fact: his business record is worse than trumps!!
The same thing happened last cycle, and the same stories came out with the same doom and gloom. Then MSTR ripped >30x over two years.
imagine his derivatives rn
This guy would be worse for crypto then sbf was…
The amount of money this guy spends on PR must be insane. Basic math: Your investment into Bitcoin is nearly break even and you’ve paid out more than 7 billion in dividends. The world is abandoning crypto and Bitcoin will never recover
Once the common stock falls way below mNAV, Strategy will no longer be able to fund btc purchases with common stock sales. They will rely primarily on STRC at an increasing higher and higher dividend rate. Saylor just upped the rate to 11.25% to try to get more money. This is as ponzi as it gets. Big players are avoiding btc because of Saylor.