Michael Saylor admits Strategy shareholders ‘would suffer’ if Bitcoin were to ‘fall 90% and stay there for 4 or 5 years’
fortune.com/2025/05/15/michael-saylor-strategy-microstrategy-bitcoin-crypto-preferred-stock-market-shareholders-equity/
Paid articlePaywallPhoto: fortune.com · view article
Levered Bitcoin Bet Endangers ShareholdersHolds 568,840 BTC (~$59B); Saylor warned equity could be wiped out if BTC fell 90% for four to five years.
Key FactsMay 22, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: fortune.com
Summary created with AI assistance · Source: fortune.com
- Strategy, formerly MicroStrategy, holds 568,840 BTC worth nearly $59 billion after financing purchases via stock sales and convertible bond issuances.
- Executive chairman Michael Saylor said the firm could remain stable if Bitcoin fell 90% and stayed low for four to five years, but equity holders would suffer due to heavy leverage.
- The company raised capital through preferred‑stock offerings, including a January issue that raised $580 million with a $100 liquidation preference and a March perpetual preferred payable solely in cash.
- With only $60.3 million in cash versus $43.5 billion in Bitcoin according to its 10‑Q, a severe bitcoin decline would likely trigger a much larger drop in Strategy's share price and could force asset sales.
"Our capital structure is constructed (so) that Bitcoin could fall 90% and stay there for four or five years, and we would still be stable."— Michael Saylor, in an interview with the Financial Times
Story Details
| Last Updated | |
| Total Articles | 4 |
Main Topics
American business executive, entrepreneur, and philanthropist (born 1965)
News on this topic
Cointelegraph May 23 25
🔥 NEW: Michael Saylor's Strategy to sell up to $2.1 billion of 10% preferred stock to fund more $BTC purchases.
More articles on this subject
Previous
Michael Saylor admits Strategy shareholders ‘would suffer’ if Bitcoin were to ‘fall 90% and stay there for 4 or 5 years’
fortune.com/2025/05/15/michael-saylor-strategy-microstrategy-bitcoin-crypto-preferred-stock-market-shareholders-equity/
Paid articlePaywall Next
Similar to This
Previous
Bitcoin Analyst: 'Only Michael Saylor' Can Do Strategy's Treasury Model - Strategy (NASDAQ:MSTR)
benzinga.com/crypto/cryptocurrency/26/10/62123801/bitcoin-analyst-only-michael-saylor-can-do-strategys-treasury-model
Strategy earmarks $1.6 billion cash pool for treasury operations, buybacks: Michael Saylor's Strategy set aside about $1.6 billion in cash to fund future ...
reuters.com/legal/transactional/strategy-earmarks-16-billion-cash-pool-treasury-operations-buybacks-2026-08-24/
'What Will You Sell Next?' Peter Schiff Fires At Michael Saylor After Strategy's $1.5B Debt Repurchase -
benzinga.com/crypto/cryptocurrency/26/05/52805954/what-will-you-sell-next-peter-schiff-fires-at-michael-saylor-after-strategys-1-5b-debt-repurchase
Strategy Signals Fresh Bitcoin Buy After $1.25B Purchase Last Week | CoinMarketCap
coinmarketcap.com/academy/article/strategy-signals-fresh-bitcoin-buy-after-dollar125b-purchase-last-week
Crypto Payments Integrated into Dubai Customs via Binance: Guest Post by BitcoinInfoNews.Com | CoinMarketCap
coinmarketcap.com/community/articles/69366f311aacd1423ce63574/
Bitcoin price prediction: BTC could soar to $170k, JPMorgan says: JPMorgan said it was eyeing two factors related to Michael Saylor's Strategy that would help ...
businessinsider.com/bitcoin-price-prediction-btc-170k-jpmorgan-gold-forecast-2025-12
GameStop stock plummets as company announces $1.75 billion debt offering amid bitcoin push
finance.yahoo.com/news/gamestop-stock-plummets-as-company-announces-175-billion-debt-offering-amid-bitcoin-push-135430327.html
Barron's May 05 25
MicroStrategy Completes $21B Stock Offer to Fund Bitcoin Buys. What’s Next.: Strategy, as the company does business, now holds more than 555,000 of the digital ...
barrons.com/articles/microstrategy-bitcoin-stock-price-99cbc2af
Paid articlePaywall Next