Odaily Planet Daily reported that Kobeissi Letter stated on X that the market is concerned about MicroStrategy's proposal to increase its authorized shares by 10 billion. Through a combination of convertible notes and debt issuance, MSTR has heavily leveraged itself. The company must issue more debt or equity to continue its Bitcoin buying frenzy. It added: "If approved, MicroStrategy's total shares could increase from 330 million to 10.33 billion. The question is, it currently puts the company in a 'lose-lose' situation." Felix Hartmann, founder of Hartmann Capital, stated that MicroStrategy's stock price "will ultimately crash, but most short sellers will time it wrong, leading to failed bets against BTC and MSTR." Hartmann said: "In 5 years, MSTR will first become one of the top five companies by market cap, then eventually go bankrupt. It is still too early for that." But he added that the opposite could also be true: "The counterargument is that in a bull market, the company will be able to leverage more, and when sitting on $300 billion worth of BTC, repaying $1-4 billion due in 2027-2029 will be a piece of cake." Joe Burnett, head of market research at Unchained, referred to MicroStrategy's current strategy as "hyperbitcoinization." Burnett stated that the company is trading at a premium, allowing it to increase the price per share of Bitcoin through leverage, "the premium trading allows them to sell shares at a price above net asset value, buy more Bitcoin, and reduce leverage—further increasing the price per share of Bitcoin. And so on." MSTR's stock price has fallen 20.18% in the past 30 days, but has still risen 342.15% since January 1. (Cointelegraph)

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