Crypto Scenario Insights
What happened
MicroStrategy's capital structure is experiencing coordinated pressure as its STRC preferred stock trades at a discount and annual dividend obligations climb to an estimated $1.2 billion.
What we think
The most likely outcome is a neutral-to-bearish consolidation (55% probability) where MicroStrategy manages its $1.2 billion annual dividend obligation through tactical, highly dilutive equity issuance and minor debt adj…
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Is MicroStrategy's Bitcoin Treasury Machine Under Structural Strain?
We explain what happened and what could follow. We do not forecast prices.