Bitcoin would need 90% crash to $8K to stress MicroStrategy balance sheet, says CEO
Michael Saylor says only an extreme 90% Bitcoin drop to $8,000 would make the firm’s BTC reserves equal its net debt, limiting its ability to repay convertibles using Bitcoin alone.
In that scenario, the company could restructure, issue equity, or take on more debt over the next five years. He added no covenants are triggered even with Bitcoin below the $76K average buy price.