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🔸 Debt-for-Equity Swap Strategy
The strategy indicates that $6B bonds will be converted into shares over the next few years. This will help the company reduce its debt burden, but current shareholders will be diluted.
🔸 Current Financial Situation
- Holding approximately $49B Bitcoin.
- Total debt is only $6B.
According to the strategy, Bitcoin must drop to $8,000 ((-88%) for the balance sheet to become truly risky.
🔸 Slightly in loss but the company continues to buy at average prices:
- Average purchase price: ~$76,000/BTC
- Current price: ~$68,000
-> Approximately 10% loss.
🔸 The company's shares have decreased about 70% from the peak.