Raws li kev lag luam Bitcoin ntsib kev kub ntxhov nyob ib puag ncig qhov ua tau kev poob nyiaj ntawm Genesis Trading thiab Digital Currency Group (DCG), kev sib tham tau khaws cia tias Michael Saylor's thiab MicroStrategy's Bitcoin thawj koom ruam tuaj yeem ua rau muaj kev phom sij yog tias tus nqi tseem poob qis.
Tus ntxhw no hauv chav tau raug tshawb xyuas los ntawm Will Clemente ntawm Kev Tshawb Fawb Txog Kev Tshawb Fawb thiab Sam Martin ntawm Blockworks Research. Hauv lawv daim ntawv qhia, lawv tshuaj xyuas cov lus nug ntawm seb MicroStrategy puas muaj tus nqi Bitcoin liquidation, nws siab npaum li cas, thiab lub tuam txhab cov nuj nqis li cas.
MicroStrategy muaj qhov loj tshaj plaws Bitcoin tuav ntawm cov tuam txhab sib pauv npe, suav txog 130,000 BTC. Yav dhau los, lub tuam txhab txawm coj tawm cov nyiaj qiv tshiab kom loj hlob nws cov peev nyiaj Bitcoin.
Tshwj xeeb, MicroStrategy qiv $ 2.37 billion los yuav nws Bitcoin ntawm tus nqi nruab nrab ntawm kwv yees li $ 30,000 ib BTC. Cov nuj nqis profile ntawm Saylor lub tuam txhab tuaj yeem pom hauv cov lus hauv qab no.
Puas yog MicroStrategy Thiab Saylor's Levered Bitcoin Bet Risk?
Cov ntawv hloov pauv tau them tus nqi paj tsawg kawg nkaus rau MicroStrategy, raws li cov ntaub ntawv tshawb fawb, vim tias cov ntawv tau tshaj tawm ntawm MSTR kev hloov pauv tau zoo heev.
Tsis tas li ntawd, kev hloov pauv rau cov khoom lag luam tsis tuaj yeem tshwm sim txog rau thaum Lub Rau Hli 15, 2025, thiab Lub Yim Hli 15, 2026, thaum ntxov, tshwj tsis yog lub tuam txhab tau txais "kev hloov pauv tseem ceeb."
Raws li Kev Tshawb Fawb Txog Kev Tshawb Fawb, qhov no yog qhov teeb meem nrog NASDAQ lossis NYSE delisting, kev sib koom ua ke lossis kev nrhiav tau ntawm MicroStrategy, lossis kev hloov pauv feem ntau ntawm cov tswv cuab ntawm lub tuam txhab.
Txij li thaum Michael Saylor muaj 67.7% ntawm cov cai pov npav, qhov xwm txheej tom ntej tsis zoo li, ua rau cov ntawv hloov pauv tsis yog qhov txaus ntshai.
Cov ntawv sau tseg 2028 laus, ntawm qhov tod tes, yog qhov tsis zoo rau ntau qhov laj thawj, raws li tsab ntawv ceeb toom. Lawv suav nrog cov paj laum siab ruaj khov, khi 11.5% ntawm BTC tuav, thiab tuaj yeem ua teeb meem yog tias hnub kawg tshwm sim.
"Txawm li cas los xij, nws tsis muaj kev hem thawj rau MicroStrategy," Blockworks Research tau hais.
Rau Silvergate qhov $ 205 lab nyiaj qiv nyiaj ruaj ntseg hauv 2025, nrog txog 85,000 kua BTC, Saylor tus nqi qiv nyiaj rau qhov nyiaj txais tau mus txog ntawm tus nqi Bitcoin ntawm $ 3,561. Yog li, qhov no kuj tsis ua rau muaj kev pheej hmoo tam sim. Reflexivity Research hais tias:
Txawm hais tias cov kev pheej hmoo tau hais los saum no rau MicroStrategy thiab nws cov nyiaj khaws cia BTC kuj tseem nyob deb ntawm kev txhawj xeeb tam sim ntawd, qhov kev txhawj xeeb loj dua nyob rau hauv lub tuam txhab muaj peev xwm los pab cov paj laum ntawm nws cov nuj nqis tseem ceeb.
MicroStrategy cov txiaj ntsig kev khiav hauj lwm los ntawm nws cov lag luam software qhia tau tias muaj kev poob qis hauv cov txiaj ntsig, thiab kev lag luam muaj peev xwm tuaj yeem cuam tshuam ntxiv rau kev ua haujlwm.
Hauv nws daim ntawv tshaj tawm 10-Q tshiab, lub tuam txhab nws tus kheej ceeb toom tias nws tuaj yeem raug kev lag luam poob rau lub sijhawm yav tom ntej. Nyob rau tib lub sijhawm, Saylor lub tuam txhab tuav ze li $ 67 lab hauv cov peev txheej ua kua, uas yuav ua haujlwm tsis pub dhau 6-12 lub hlis tom ntej.
Tsis tas li ntawd, lub tuam txhab muaj txog 85,000 kua BTC ntawm nws daim ntawv tshuav nyiaj li cas los sau cov khoom lag luam yuav tsum Bitcoin poob qis dua $ 13.5,000 thiab thawb tus nqi qiv-rau-tus nqi ntawm Silvergate qiv nyiaj siab dua 50%.
"Txawm li cas los xij, kev lag luam software yuav tsum tuaj tos kom tsis txhob yuam BTC muag hauv 2024," Blockworks Research xaus. Txog tam sim no, txawm li cas los xij, MicroStrategy's Bitcoin thawj koom ruam tsis muaj dab tsi ua lag luam yuav tsum txhawj xeeb txog.
Thaum lub sijhawm xovxwm, tus nqi BTC raug tsis lees paub ib zaug ntxiv los ntawm qhov kev tawm tsam loj ntawm $ 16.600.
Tau qhov twg los: https://bitcoinist.com/can-microstrategy-levered-bet-crash-bitcoin/