After the drop $BTC to $60,000, the network was once again hit by a wave of FUD: 'Saylor lost', 'Strategy is bankrupt'. But if you open the company's financial report from February 5, the picture looks quite different. 👇
1. 📊 Real entry price and 'paper' losses
Let's be honest: after large purchases at the end of 2025, the average entry price for Strategy Inc. is $76,052 per BTC. At the current rate of ~$69,500, the company indeed has a 'paper' loss of about $8.3 billion.
But! A paper loss is not a real loss until the assets are sold. The strategy has not sold a single satoshi.
2. ⏳ No Margin Calls until 2028
The main myth is that the company will be forced to sell BTC due to price drops.
Fact: The strategy's debt is not bank loans, but convertible bonds.
The nearest significant payment date is 2028. The company still has 2 years to wait for the new growth cycle without feeling pressure from creditors.
3. 💎 The foundation is stronger than ever
For the first time in the company's history, its equity ($8.36 billion) exceeded the amount of debt. This means that the strategy has become financially stronger even in a bear market. Moreover, their core IT business (SaaS) showed a 62% growth in the last quarter, providing stable cash flow to service the interest.
4. 🐳 The "Infinite Game" strategy
Michael Saylor plays a game where the planning horizon is decades. For the strategy, Bitcoin is not speculation, but a reserve currency. While FUDsters panic, institutions look at the debt structure, which remains safe.
Is it pleasant to see the portfolio in the red? No. Does it mean bankruptcy? Absolutely not. The strategy has a margin of safety and time at least until 2028.
🚀 How do you act during such volatility? Do you buy out of fear or wait for the bottom?
#Bitcoin #Strategy #MicroStrategy" #BTC #CryptoAnalysis #Saylor #BinanceSquare
