Michael Saylor - House of Cards

MicroStrategy holds 499,096 Bitcoins, valued at approximately $43.7 billion, funded by $8.2 billion in debt.

This strategy follows a cycle: issuing convertible notes at 0% interest, buying Bitcoin to drive its price up, selling new shares at a premium, and acquiring more Bitcoin. However, this approach depends on the continuous appreciation of Bitcoin to remain sustainable.

MicroStrategy’s debt structure includes convertible notes maturing between 2027 and 2032, with clauses that could trigger early repayment in case of a “fundamental change.” If Bitcoin’s price drops significantly, the company’s assets could fall below its liabilities, potentially prompting shareholders to push for liquidation to protect their interests.

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Michael Saylor Has Built A House of Cards That Could Tumble Down | HackerNoon