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Strategy Inc. (NASDAQ:MSTR) might be experiencing some financial pressure, but cryptocurrency punters don’t think the company will be forced to sell its Bitcoin (CRYPTO: BTC) holdings this year.
The odds that the Michael Saylor-led company liquidates any of its BTC on or before Dec. 31 due to lender action or other external financial obligations were only 3% on Polymarket, significantly down from a March high of 15%.
Over $350 million has been wagered on the outcome as of this writing. The resolution sources will be SEC filings, official Strategy statements, and a consensus of credible financial reporting.
The rules only apply to forced liquidations, i/e, Bitcoin sales due to contractual obligation, such as a loan default, an unfulfilled margin call, or legal/regulatory enforcement. Voluntary Bitcoin sales will not count.
See Also: Kevin O’Leary Says Altcoins Not ‘Bouncing Back’ As Investors Realize Bitcoin And Ethereum Are All You Need In Crypto: ‘They Have No Use Case’
The bets come amid Strategy's announcement of a $1.44 billion reserve, aimed at funding dividends and interest without relying on Bitcoin sales during downturns.
Executive Chairman Michael Saylor said that the company could sell its Bitcoin if its market value falls below the value of its BTC reserves.
“We will do that because that’s in the best interest of shareholders,” the Bitcoin bull said.
Strategy, often seen as a leveraged play on Bitcoin, has come under pressure amid the ongoing downturn in the top cryptocurrency. The stock has dropped 35% in the past month, outpacing Bitcoin’s 21% decline.
That said, Strategy continued to add Bitcoin to its coffers. The firm revealed buying 130 BTC on Monday and now holds 650,000 BTC, valued at about $59 billion.
Price Action: Strategy shares fell 0.99% in after-hours trading after closing 3.25% lower at $171.42 during Monday’s regular trading session, according to data from Benzinga Pro.
MSTR exhibited a very low growth score — a measure of the stock’s combined historical expansion in earnings and revenue across multiple periods. How does it compare with Coinbase Global Inc. (NASDAQ:COIN) and other cryptocurrency-linked stocks? Visit Benzinga Edge Stock Rankings to find out.
Photo Courtesy: Jestercine on Shutterstock.com
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