MSTR

st0j3

None of that. People in this thread are just haters. If you believe bitcoin will go up over years, MSTR will go up more.

MuricanWisecrack

MSTR was deep underwater before and it literaly means nothing.

Iunatic

Corn is gay but I think it would be above $150,000 if MSTR and Mango hadn't fucked with it

keelem

I mean it'll prob tank then immediately bounce back up because MSTR can't get margin called for a while.

Former_Tomato9667

So when MSTR shits the bed (again) what’s the chance Saylor does jail time this time

xarips

its the opportunity of a lifetime to buy MSTR cheap

Concept-Plastic

BTC MSTR death spiral?

Carfar_Farcar

Deciding on a short term position for Monday and I'm torn between calls on SNDK or puts on MSTR, leaning towards MSTR puts as long Bitcoin stays sub-$80k.

Carfar_Farcar

Deciding on a 0TDE for Monday and I'm torn between calls on SNDK or puts on MSTR, leaning towards MSTR puts as long Bitcoin stays sub-$80k.

gorillalifter47

Underperforming bonds over what time period? The arrogant guy is currently up around 10x since MSTR adopted their bitcoin strategy in August 2020 (this is cherry picking too, but seems the most appropriate time period to compare), outperforming bonds, gold, the S&P500 and even bitcoin since then. Neither of us can predict the future (other than that MSTR will surely be in the red at market open), but to suggest that adopting a bitcoin strategy has been a bad decision to this point is just not correct. RemindMe! 5 years

dataCollector42069

BTC in such a bubble due to MSTR. Good luck trying to offload 700k btc lmfao

Professor_Meteor

MSTR to $120

Kooky-Collar8673

None of the MSTR loans are secured with bitcoin...they can convert any loan into shares at a fixed price

improbably-sexy

>Disclaimer: The analyst who wrote this article has shares in Strategy (MSTR). https://preview.redd.it/1hzvznjbetgg1.jpeg?width=1280&format=pjpg&auto=webp&s=b2b5d1b1df353fc3e936454237b9c952fce77e8b

JC505818

Once MSTR starts liquidating its BTC positions, watch out!

InjuryIndependent287

It’s not a matter of BTC’s price. MSTR has no security in their leverage because they have delisted the stock so much with convertible note sakes that there are no more shares available to sell if they need to if they needed capital. If their stock continues to plummet, the investors WILL start to pull out and they WILL want cash, not shares of a failing company. This will trigger their collapse. Continue to believe the fakes narratives that YouTubers have been pushing. I’m just laying out the reality of the situation. It’s not a matter if, it’s a matter if when it pops.

Majestic-Bass6772

MSTR holders gonna wake up LIQUIDATED 😭

CyberSmith31337

Fun fact; Michael Saylor is also mentioned in the Epstein files. Would be willing to bet that is why crypto is dumping; reacting to inevitable shorts against him and MSTR

desertstorm4

The short squeeze is coming. MSTR earnings date is 2/5/2026. MSTR has strong cash reserves to address their obligations for 2 years. They will not need to liquidate their BTC holdings just because BTC temporarily falls below their purchase average. I am not a fan of MSTR but I am not going to miss this opportunity staring me in the face to make big money. MSTR is like bitcoin with leverage. You can hold MSTR without the decay of bitcoin leveraged ETF’s. I will be making dollar cost averaging buys of MSTR starting 2/2/26. Don’t be left in the rocket fueled cloud of dust.

HSuke

The price of Bitcoin doesn't matter for forcing Microstrategy to start selling. It's the price of MSTR and the strike price for the convertible bonds that matters. **Short answer**: They will sell once their $1.4B of liquid assets runs out as long as the price of MSTR is below the conversion price of their notes. They will sell if the price of MSTR is below ~$350. **Long answer**: Microstrategy has a lot of debt to pay back that will be maturing in the next several years. They currently have $8.2B of debt and only $1.4B of liquid assets, so they will need to sell MSTR or Bitcoin (or issue new shares of MSTR to sell). Value of the notes, put dates, and conversion prices: * $1.0B in Sep 2027 with conversion price of $183 * $3.0B in Jun 2028 with conversion price of $672 * $0.8B in Sep 2028 with conversion price of $150 * $2.0B in Mar 2028 with conversion price of $433 * $0.6B in Sep 2028 with conversion price of $233 * $0.8B in Jun 2029 with conversion price of $204 That's $8.2B with an average conversion price of $425. Since they have $1.4B in liquid assets they can sell, that's equivalent to $6.8B with a strike price of $350. If the price of MSTR is below the conversion price, the holders of those notes will choose to be paid in cash instead of converting to MSTR shares. Currently, the price of MSTR is below the conversion price for ALL of those notes except for one of them, forcing Microstrategy to sell once their $1.4B of liquid assets runs out. I wouldn't be surprised if MSTR shareholders attempt to frontrun this by dumping MSTR even more.

potato111a

What if it takes MSTR to get liquidated before 🌽 rocket to 150k

Status_Estimate4601

There is a reason MSTR stock is 70% down

No_Economist3815

Let's hope so. I heard MSTR would need to liquidate their BTC holdings at around $72K. Fun times.

desertstorm4

The short squeeze is coming. MSTR earnings date is 2/5/2026. I am not a fan of MSTR but I am not going to miss this opportunity staring me in the face to make big money. MSTR is like bitcoin with leverage. You can hold MSTR without the decay of bitcoin leveraged ETF’s. I will be making dollar cost averaging buys of MSTR starting 2/2/26. Don’t be left in the rocket fueled cloud of dust.

ThreeTonChonker

90% of people in this sub are crypto haters because they are bitter about its success. So I’ll give you the real answer. There is no bottom for Saylor. Even if BTC got down to $10k again, so many people would be buying (including me, I’d mortgage my house without question) that it would be impossible to test Saylor’s resolve to lose every penny he has. So basically MSTR won’t sell unless Saylor capitulates which is an impossible scenario because BTC will never get that low.

honey_102b

tomorrow, OpenAi to invest $100B in MSTR.

rich9119

Yeah, seems like as long as they can cover their preferreds, MSTR can ride out the Bitcoin swings without hitting a cliff.

pibbleberrier

Conversely you should now buy MSTR as it look like he is the only techno billionaire that got rejects by the Epstein crowd

PNINEP9

I am perfectly content for my btc holdings to take a dive just to watch MSTR and other goobers burn

UnSeenBabyGravy

Okay, so I did not read them in depth but from sorting through them at speed i picked up the following. There are no "hidden" terms in the public notes that force a sale at $70k or $60k. The real risk isn't a contractual "forced sale" it's a **Refinancing Risk**. If Bitcoin is at $30k when a $2 billion note comes due in 2028, MSTR might not be able to issue *new* debt to pay off the *old* debt. At *that* point, they would have to sell Bitcoin or diluting shareholders into oblivion to raise the cash. This builds into the narrative that it's not necessarily about Bitcoin's price. It's about staying at an extremely low price for a long time to the point where they can't fulfill that with their cash balance or other means of getting more debt.

Actual_Guide3525

No one in their right mind should lend them money to buy more if the bitcoin is in a bear market. But most people looking at this are not in their right mind. Debt holders can force MSTR to sell the collateralized bitcoin depending upon the terms of the note. MSTR may refuse if they control the custody and it will go to courts. If the debtholders have control of the asset they will dump it and push the price further down.

WendyDumpsterFire

So MSTR, TSLA, and MSFT are fucked?

AdCritical5383

#MSTR > ##Michael ##Saylor ##Tis ##Retarded

gianakis05

Do not touch any funds buying MSTR even with a 10 ft pole

wolfishnickelsyr

Good question. Given the CEO’s history of fraud and using MSTR to commit it, I’d say there’s bo real floor.

Mediocre-Gas-3831

I invest in MSTR , because I believe in their leadership 

No-Replacement-8297

MSTR earnings this week and will report neagtive earnings 🧑‍🦼‍➡️🤣

Rock_or_Rol

I think it’s a good buy too. As dogmatic as people get about loving corn, there’s also those that are dogmatic about trashing it. Master has been over sold and has a sizable short float. I’m buying heavy when BTC gets its mojo back, as will a lot of other people. It’s worth a lot more than people are trading it at, who will buy massively indebted, speculative stocks but think of MSTR as something different because it doesn’t have the right buzz words BTC is here to stay. We’d need like 3x more October liquidation events and a recession to kill it. I do wonder about quantum/AI decryption. Like, is there anyway to safeguard coin from that that at least brings it up to the same vulnerabilities as digital banking?

mickalawl

They can never sell. Their mantra has been HODL forever. Selling destroys their ethos and their 'credability' (ability to hoodwink the credulous). Selling will also impact BTC negativly.as Saylor is an OG lazer eyes weirdo. So selling makes their long term woes become very very immediate term woes. Better to kick the can of stupidity down the road until the massive debts are due. At least buy Saylor time to fake his own death and hide somewhere in exile. Although that last sentence is more of a plan than MSTR has ever had, so who knows what will happen.

OracleofFl

I wonder how low BTC has to go before MSTR has to liquidate its inventory to satisfy creditors? When that happens, the bottom will fall out.

imunfair

That's a rough chart though. Bitcoin is down 20% on the year and MSTR is down over 50%, not even including the hit bitcoin has taken since Friday close.

Extreme_Green_1708

Balls deep in MSTR calls and someone hit my car while I was at the store and left. What da fooooook

Hfksnfgitndskfjridnf

The price of Bitcoin was 114k on September 30, the last reported quarter. The price of Bitcoin was around 88k on 12/31, so MSTR is going to report a massive loss for Q4.

Sumojoe118

Everyone here acting like they are gonna get liquidated but its much more complex than their average cost being higher than the current price of bitcoin. The way the business is structured they will survive for a while without selling anything. If we are still at these prices or lower in a couple years or if bitcoin severely tanks to like sub 40 then they could be in trouble but I think it will recover by then. I'm not invested in MSTR but I would not bet against them

BigBootyHustla

Full porting MSTR COIN puts Monday, what scam companies

Hfksnfgitndskfjridnf

It’s 100% tied to the price of Bitcoin. With the new FASB accounting for digital assets, all unrealized gains and losses now run through the P&L. It was a dumb rule change, it should have just gone through OCI like what other companies do with other unrealized gains on losses on traditional assets. It’s the same thing so treating it differently doesn’t make sense. MSTR has no earnings in the normal sense to support any interest or dividends on debt payments.

Busy-Explanation4339

Nah, he doesn't invest in MSTR.

Stock_Succotash_1560

MSTR gins be 100 on mo day lol

slamtt

Michael Saylor was deemed too autistic to be blackmailed by Epstein associates. Long MSTR.

Samjabr

dang, corn in straight up shambles. MSTR finnin to go to Zero

ai___________

MSTR with 88% buy ratings in robinhood

AxeSpez

There's leveraged MSTR though

pp08

Their only real assets are bitcoin. They are already levered so if the price of bitcoin goes down it's unlikely anyone would lend more against it. MSTR is just a flawed pro-cyclical business model. And now they have $900mm in preferred dividends per year to pay plus debt maturities in a couple years.

MiloAndCrows

Related to comments in the thread, from an AI Search; As of early 2026, MicroStrategy (MSTR) holds a significant amount of capital in debt and preferred equity to finance its Bitcoin acquisitions, with approximately **$8.24 billion in debt** and over **$8.38 billion in preferred stock** (or up to $5.78 billion as of Sep 2025, according to other reports), following a shift from bond issuance to preferred stock.  I am glad I hold 0$ MSTR debt or preferred's.

Independent-Cress382

For fixed income desks, buying MSTR debt and shorting BTC was the move. QR is rough, best of luck to you.

barbrawr

Man I interviewed for a quant research role in May and I suggested shorting MSTR and going long on BTC as a hedge. Was told it wouldn't work. Look at it now. Fuckers.

Pokeables

“Disclaimer: The analyst who wrote this article has shares in Strategy (MSTR).”

inevitable-ask-123

mNAV isn't related to leverage like that. Even if mNAV held at 2, if BTC went up by 10% then the stock would also go up by 10%. MSTR is leveraged in the sense that it has borrowed money to buy btc, but that actually reduces the mNAV because that debt is convertible into shares. So the diluted mNAV was 0.94 last time I checked.

wolfishnickelsyr

Even if someone is a bitcoin bull, it’s significantly better to buy bitcoin directly than to buy MSTR

sell-my-information

Also note, if MSTR sell bitcoin price collapses

FUBOSOFI

!banbet MSTR 80 13d

Bright_Freedom5921

I think this thread is the bottom signal. Buying MSTR on Monday. No joke. 

Inevitable_Fuel7244

Stocks I love to watch shit the bed, in no particular order: TLSA, MSTR, PLTR, RGTI, QUBT, OKLO

mlhender

Shoot. Reading all these comments is making me realize I need to start buying MSTR

InjuryIndependent287

It’s not a matter of when they would need to sell due to BTC price. It’s a matter of when they would need to sell to pay off note holders in cash because they won’t want MSTR shares if the stock price continues to plummet.

cryptopolymath

MSTR is the next WeWork, they even have a cult leader as CEO.

PaymentFlo

Unrealized losses only matter if someone is forced to sell. For companies like MSTR, the real risk isn’t price dips, it’s leverage and liquidity under stress. Markets going “risk-off” usually hurt volatile assets first, long before fundamentals change.

Cockballzz

!Banbet MSTR $145 5d

JarvisCapRes

MSTR is the biggest trashbag holder

Agitated_Whereas7463

There is literally no reason why losing a support level on a chart means MSTR has to sell. Doesn't matter where the cash for their div & interest payments comes from. Cash reserves, sale of real estate, Saylor selling his own plasma, it. Doesn't. Matter.

Purple_Errand

If they start selling their holdings it means MSTR ran out of hard cash. that is when trust is gone from the company.

AmericanScream

Let's not forget Michael Saylor was also right there, committing fraud with MSTR at the apex of the dot com bubble. He's everywhere nobody else should be.

st0j3

Literally so what? The thesis is that bitcoin will be much higher years from now and that hoarding helps the rally and that hoarding together allows leverage that is more sophisticated and cheaper than doing it individually. MSTR will add even more aggressively on this dip.

AmericanScream

Michael Saylor is also in the Epstein files being referred to as a "creep" with "no personality." MSTR is now just a giant Ponzi scheme.

TonyStarks81

This is one of those moments where everyone here will pile into puts and then bitch about the market being rigged when bitcoin and MSTR moon for 6 straight months. I have zero belief in bitcoin but I keep thinking 30 day out calls on MSTR for several months in a row will be the play at some point of 2026.

Cagliari77

People forget. They will also forget all this when BTC will be at $300k or something eventually, and MSTR will be doing just fine once again.

ch0c0l8cake

MSTR avg BTC holding is 76k

zxc123zxc123

Gotta add me when I throw in hot takes like: >I'm not a 🌈🐻 so I don't short, but MSTR, CVNA, SLV, and USD are looking overvalued, suspicious, and/or moving to the downside. I swear I'll be right 4/4 and still be poor because I didn't short or buy puts on this shit.

lapetee

MSTR will be fine for a long time since their debt is well structured. Problems start to arise around 2027-2028 if btc does not pump back up. Good time to buy some discounted btc via the stock though (risky as fck dont do it regards). It'll be interesting to see if MSTR can hold out the crypto winter and if not, how much of a setback will the massive release of btc to the market cause to btc value

d33p7r0ubl3

I said this when MSTR was at ATH and got clowned on. Inverse wsb as always

Interesting-Swing-31

MSTR seems to be trading a a 21% discount to Bitcoin. While MSTR’s average cost price for Bitcoin is $76,037, the market values MSTR at just $60,800 per Bitcoin held. **If Bitcoin stays \~flat** * MSTR likely mean-reverts upward * Discount compresses toward NAV * Equity outperforms BTC on a relative basis **If Bitcoin rises** * Double leverage effect: * BTC up * Discount narrows * MSTR can outperform BTC materially **If Bitcoin falls** * MSTR underperforms BTC * Discount widens * Equity pain is amplified MSTR looks attractive to me(with a willingness to accept downside Bitcoin risk) Anyone/everyone feel free to dispute it, would be keen to hear others’ opinions, or if I got my maths wrong.

Spirited-Tie8758

if MSTR starts selling BTC the house of cards will fully collapse

HSuke

The whole MSTR curve reminds me a lot of ARKK.

chi_guy8

Having seen this play out since 2013, we are at the part of the cycle where everyone is dunking on Saylor as if he’s already blown up, but he doesn’t and keep on doing what he’s doing. Bitcoin finds a bottom and then MSTR booms again on the next climb.

sNeKbIt99

Faster than that I think. Saylor underwater at $76k I believe... Can almost guarantee there will be a run on MSTR. Going sub $100 soon.

ch0c0l8cake

Wild, BTC bounced on MSTR avg. Price of 76k.

Exact-Writing-8561

Only MSTR and the creditors would know that

Liberty4All357

I agree the loans are pretty ridiculous. However, what makes them so dangerous for the investors (and so good for MSTR is of course not that they are convertible... it's that they are unsecured. And even in that case, that doesn't mean MSTR can't go bankrupt. It just means the investors are especially screwed if MSTR gets in a position where that happens. Are the notes bonkers? Yes. They're certainly not 'literal' robbery though... as the investors did this fully aware of what they were doing. Supposedly these were qualified institutional buyers. I'm guessing it was people with a lot of money they were willing to lose playing some high stakes gambling.

Bladee___Enthusiast

MSTR shares is basically leveraged bitcoin anyways

Effective_Peak_7578

Historically MSTR tends to fall more than BTC, not less—so BTC drops alone don’t usually push mNAV below 1x unless BTC crashes hard AND equity investors price in additional downside risk. It fell below 1x in November last year

greyenlightenment

remember the MSTR infinite money glitch? mainstream financial publications were actually entertaining this as a sustainable or legit strategy

SignificanceLate7002

3/4 of their SEC filings are just Twitter posts hyping themselves up. People just paid more attention to MSTR.

Effective_Key5276

When it comes to investing, keep it simple and stupid. I can't easily explain how or why MSTR exists, and that's a bad sign, which is why I never touched it.

throwaway80818283

What happens to all the BTC if MSTR files bankruptcy?

Open_Sir_8830

So, which is best to short MARA or MSTR?

greyenlightenment

MSTR -50% day and trading halt

SpiffyGolf

So do you buy PUTs on MSTR?

VirtualMemory9196

I’ve read that funds use MSTR loans to get Bitcoin exposure when their policy does permit direct exposure to it

Inevitable_Fuel7244

They can suffer until $30k though apparently. I'll be buying puts on MSTR but they aren't doomed until a lot lower.

devereaux

He might actually be that dumb, but I'm guessing he is diversified with all the MSTR he's already sold