BitMEX Research analysts have also prepared a report on MicroStrategy, a corporate company known for holding the most Bitcoin in the world. It was stated that the company, which holds more than 250 thousand BTC, will “very likely” not have to sell these Bitcoins.

A new record has arrived

As it is known, MicroStrategy shares had increased significantly yesterday and closed at $235, the record level of the last 25 years. MSTR shares, which broke a record yesterday, started today quickly. The shares are trading at $239 at the time the news was written.

The debt tactic has worked so far

BitMEX analysts stated that MicroStrategy, which started buying Bitcoin with a radical decision in August 2020, has a complex bond sales structure and stated that there will be no need for stock sales if the Bitcoin price remains high.

Those who buy company bonds can sell these bonds for cash or convert them into MSTR shares (convertible share system). If the stock prices are high, the company can easily make payments in cash. Therefore, there is no need to sell Bitcoin.

What happens in the worst case scenario?

Analysts also stated that “anything can happen at any time” in the cryptocurrency world, and they kind of guaranteed themselves and said the following:

“However, if the company’s premium value decreases and the bond maturity period comes, then shareholders can approve the sale of Bitcoin. However, considering that the stocks are still high and the maturity period is between 2027 and 2031, this pressure seems to be low. Even if there is a typical bear season decline today and the price drops to $ 15,000, since the maturity period is a few more years, the possibility of a sale is still very low.”

The analysis also wrote that the revenues MicroStrategy earns from its software business are not very high and will not be enough for cash payments.

The value of the Bitcoins in MicroStrategy’s hands is currently around $17 billion, but the company paid a total of $9 billion for these BTCs.