Bitcoin Gains vs. Balance Sheet Pressure: Strategy’s Tightrope

[madtrader]

While Strategy’s Bitcoin treasury is deep in the green, its broader financial picture is more complicated. Over the past 12 months, the company’s stock has fallen roughly 52%, reflecting investor concern over leverage and future obligations, according to Yahoo Finance. Much of Strategy’s Bitcoin buying has been funded through convertible notes and other debt instruments.

That debt begins to matter more in late 2027 and 2028, when note holders can convert billions of dollars’ worth of obligations. Strategy has stated it has sufficient resources to manage those pressures, while also acknowledging it could sell part of its Bitcoin holdings if necessary. The coming years will test whether its Bitcoin-first balance sheet is a masterstroke — or a source of strain.

[nihalsari]

saylor’s conviction is impressive but debt doesn’t care about vibes