Crypto News and Headlines

Saylor Says Strategy Can Survive Bitcoin Crashing to $8,000 – but Can It Escape the Slow Bleed of Dilution?

Strategy, formerly MicroStrategy, has turned its equity, convertible notes and preferred stock into a public Bitcoin proxy, holding over 717,000 BTC while its share price hovers below $130. The company faces a 2027 put on $1.01 billion of 2028 convertible notes that could force a $1 billion cash repayment if the stock stays under the $183.19 conversion price. To fund Bitcoin purchases it has raised $9.5 billion of equity this year, dramatically expanding its share count and diluting per‑share Bitcoin exposure. A $2.3 billion cash reserve cushions short‑term obligations but does not eliminate the dilution risk if Bitcoin stays weak.