MICROSTRATEGY FOR THE FIRST TIME ACKNOWLEDGES IT MAY SELL BTC IN AN EMERGENCY SITUATION

🔸 MicroStrategy CEO Phong Le confirmed that they may sell a portion of the 649,870 BTC if faced with an extremely tight financial situation in order to protect shareholders.

🔸 This is in stark contrast to the "never sell" philosophy of Chairman Michael Saylor and shows that previous skepticism about this statement is well-founded.

🔸 CEO Phong Le stated that they will only sell BTC when two conditions occur.
➤ The market value of MicroStrategy is lower than the value of the BTC they are holding (mNAV below 1x).
➤ The company cannot raise additional capital through issuing shares or borrowing.

🔸 MicroStrategy has to pay about 750 to 800 million USD in preferred dividends each year; previously they used issuing shares to pay, but now that the stock price has fallen sharply, this method is harder to implement. MicroStrategy's shares operate similarly to a leveraged Bitcoin ETF.

🔸 This means that the likelihood of MicroStrategy selling BTC randomly is low, but if they are forced to sell, the market at that time is almost certainly in a state of extreme panic, and the selling pressure will make the situation even worse.#DecemberMarketOutlook #ShowMyAlphaPoints $BTC $ETH