A few more points about MicroStrategy's liquidation problem and why it can borrow unlimited debt

1. MicroStrategy's total debt has reached 4.2 billion US dollars, and the book profit (floating profit) from investing in Bitcoin is currently about 5.97 billion US dollars. The floating profit of a little increase in Bitcoin exceeds the company's annual operating income, so when Bitcoin rises, MicroStrategy will rise more sharply

2. MicroStrategy itself has business income, with an income of 100 million US dollars each quarter, so even if it borrows money, it can be repaid in the next few years

3. According to Ni Da, MicroStrategy's borrowing funds are only 10%, and the liquidation price of BTC is 700 US dollars, with almost no liquidation risk

4. The convertible bonds issued by MicroStrategy are as long as September 15, 2028, which can survive the bear market, and pay interest every six months, with an interest rate of only 0.625%, and the repayment pressure is very low

5. MicroStrategy once issued a 6.125% priority secured bond, with collateral of 69,080 bitcoins, and this card is not used yet$BTC