MicroStrategy's Convertible Debt Structure Protects $64 Billion Bitcoin Treasury From Forced Liquidation
MicroStrategy's 641,205 BTC holdings are shielded from forced sales through convertible debt instruments that allow settlement via stock issuance or cash, according to Bitcoin analyst Willy Woo. The company's $1.01 billion debt maturing in September 2027 would only trigger liquidation risk if its stock falls below $183.19, equivalent to Bitcoin at $91,500. Despite Bitcoin's recent 10% weekly decline to $101,377, the firm maintains the largest corporate Bitcoin position globally.