Microstrategy Bitcoin Bet: Does the company play with fire?

Although his initial convertible of 2025 has already been determined, concerns about long -term stability stability stability persist. His dependence continues to debt and dilute actions to maintain his bitcoin purchases, in particular he aroused controversy.

Dilute actions and debt weighs a difficult strategy

The recent strategy (ex Microstrategy) announced the launch of a new offer of eternal privileged events called Str or “clamp”.

“The strategy announced today and $ stf (” Sprife “), new offers of permanent privileged shares available for institutional investors, and some non -invoiced investors,” said Michael Sylor’s executive president.

Some analysts consider this initiative a desperate attempt to raise funds. Adam Cochran, a partner of Cinneamhain Ventures, said the company is in an uncertain financial situation and proceeds that despite its operating flow $ 53 million, the strategy has a negative free cash flow of $ 1.06 billion.

This means that IS by winning the bitcoin course, the company’s financial obligations increase.

“These bond emissions deteriorate every year and in return they will dilute the events they have issued,” Cochran said.

Convertible convertible bond of Microsthegy from 2025 has already been paid. However, the company still faces a debt of $ 1 billion due in 2027. In addition, its new offer indicates a growing urgency to solve liquidity problems.

“(…) This desperate permanent offer with a 10 % income composed of an assets is 6 times and which loses money, also has no short -term use. Since 2027, you have to work with a debt of $ 1 billion and pay it,” added Adam Cochran.

Despite these financial pressures of the strategy, it continues its aggressive strategy for buying bitcoins. At the beginning of this week, the company bought $ 10.7 million in bitcoins, which is its smallest purchase of 2025. This raises questions about the possibility that the company’s liquidity reserves are beginning to be tested according to the debt fee.

Bitcoin strategy is subject to increasing financial pressure

Recent reports have emerged that strategies could be forced to sell part of their bitcoin assets of $ 43 billion if financial conditions deteriorate.

The sale of this order could put pressure on the Bitcoins course. However, experts argue that the greatest risk is more of a strategy shareholder, which would accuse a significant decrease in the value of the company’s shares.

“Maintaining investors’ confidence will be essential for MSTR after a decline,” Kobeissi said.

In addition, strategy also faces tax dilemma. In fact, analysts have stressed that the company is facing significant tax liability, while its bitcoin assets could further worsen its financial situation.

“All the debt that the MST closed to buy Bitcoins is not guaranteed against Bitcoin. There is no challenge against Bitcoin,” said investor British.

With a tax burden that could reach billions of dollars, questions about the way the company intends to balance its obligations while buying bitcoins.

In addition, Microstrategy problems illustrate market concerns about highly indebted bitcoin strategies. Although Michael Saylor was a keen defender of Bitcoin, his approach to financing these purchases was criticized and was considered too risky.

Although competition in the world of investment in bitcoins is growing and investors are more cautious, the strategy financial maneuvers are likely to be carefully monitored for a while.

Finally, according to Beincrypto, Bitcoin showed that Bitcoin was negotiated for $ 83,563 when writing this article. This represents a modest profit of 0.89 % in the last 24 hours.

Morality of History: Yesterday in the crypt is sometimes losers tomorrow.