Bitcoin dip puts Strategy marginally underwater, but balance-sheet risks remain limited
Summary:
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Bitcoin’s pullback into the mid-$75,000s has pushed Michael Saylor’s Strategy marginally below its average bitcoin cost base.
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While the firm is technically “underwater” on paper, analysts see no balance-sheet stress or forced-selling risk.
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Strategy’s bitcoin holdings are unencumbered, and its debt structure allows significant flexibility.
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The main impact of lower bitcoin prices is on future fundraising capacity, not solvency.
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History suggests slower accumulation during periods when Strategy trades below the value of its bitcoin holdings.
Info via CoinBase.
Bitcoin’s recent slide to around $75,200 has pushed Strategy below the average price it paid for its vast bitcoin holdings, putting the company’s flagship digital…
