Its highly leveraged strategy could lead to severe financial stress if Bitcoin prices experience a prolonged, deep decline.
TLDR: Let me first say the conclusion: It is theoretically possible, but the actual probability is very small
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The leverage ratio is not high, the debt term is long, and there is no obvious debt repayment pressure in the short term
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The premise of a financial crisis is that the value of Bitcoin has been at an extremely low level for a long time, and the probability of occurrence is low;
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Founder Michael Saylor holds 46.8% of the voting rights, which allows him to avoid early redemption clauses in preferred debt and firmly control the company’s operating direction.
