CryptoHacker Noonabout 8 hours ago
Michael Saylor Better Hope Bitcoin Doesn't Rise Too Much
28 min read
Strategy's leveraged bitcoin structure creates a paradox where rising prices could trigger an unpayable tax bill. The company holds $51 billion in bitcoin against $22.2 billion in debt. Common shares trade at 1.03 times their residual claim, not at a 42% discount. The real risk is a specific bitcoin price path.
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