MicroStrategy, Micheal Saylor, thiab lawv tus thawj koom ruam Bitcoin

Lub lag luam crypto tau dhau los ntawm kev tua neeg txij li xyoo tas los tab sis ntawm qhov no kev lag luam bearish ib tug nyuj yog ua kom lub lag luam ntawm cov nqe lus zoo thiab uas yog Michael Saylor thiab nws MicroStrategy. Hauv kev lag luam uas loj dua whales thiab tuam txhab xws li Tesla muag lawv cov Bitcoins, MicroStrategy tab tom yuav ntau thiab ntau dua thiab thaum lub sijhawm sau ntawv, nws muaj ntau dua 130k bitcoin uas muaj nqis txog $ 2.08B, xav txog tus nqi tam sim no ntawm Bitcoin.

MicroStrategy tsis tsuas yog khaws Bitcoin ntawm nws daim ntawv tshuav nyiaj li cas tab sis ntawm cov nuj nqis ib yam nkaus thiab qhov no tsim kev xav ntau ntxiv txog lub neej yav tom ntej ntawm lub tuam txhab no. Ntau tus neeg ua lag luam crypto sab saum toj thiab cov kws tshaj lij tau txhawj xeeb txog MicroStrategy cov nuj nqis tsim thiab lawv cov lag luam. Cia peb khawb tob rau hauv cov nuj nqis no.

Tag nrho cov nuj nqis Profile ntawm MicroStrategy

Raws li kev txheeb cais, thaum kawg ntawm 30 Cuaj Hlis 2022 (lub quarter kawg), MicroStrategy tuav ntau dua $ 2.73B ntawm tag nrho cov nuj nqis. Cov nuj nqis no yog nyob rau hauv daim ntawv ntawm 2025 thiab 2027 Convertible Notes, 2028 Secured Notes, 2025 Secured Term Loans, thiab Lwm Cov Nyiaj Them Ntev Ntev.

2025 thiab 2027 Convertible Notes

Daim ntawv hloov pauv xyoo 2025, muaj nqis txog $650M, tau ua tiav rau lub Kaum Ob Hlis 11, 2020. Tus paj laum ntawm cov ntawv hloov pauv no yog 0.75% thiab nws yuav tsum tau them ib nrab xyoo rau lub Rau Hli 15.^th thiab lub Kaum Ob Hlis 15^th ntawm txhua xyoo. Cov ntawv sau no tsis tuaj yeem hloov mus rau hauv kev sib koom kom txog rau thaum Lub Rau Hli 15^th, 2025. Txawm li cas los xij, yog tias muaj qee yam hloov pauv hauv cov qauv ntawm lub tuam txhab, MicroStrategy yuav them rov qab tag nrho cov nyiaj qiv ua ntej lub sijhawm yog xav tau.

Tsis tas li ntawd, 2027 cov ntawv hloov pauv tau raug nqi $ 1.05B ntawm 19^th Lub Ob Hlis 2021, thiab cov ntawv sau no tsis tuaj yeem hloov mus rau hauv kev sib koom kom txog thaum Lub Yim Hli 2026. Kev hloov ntawm cov ntawv sau rau hauv kev sib koom yuav tshwm sim yog tias lub tuam txhab tau txais "kev hloov pauv" raws li tau piav qhia hauv Indenture.

2025 Secured Term Loan

Ntawm 23^rd Lub Peb Hlis 2022, MicroStrategy tau txais $ 205M ruaj ntseg qiv nyiaj los ntawm Silvergate uas yuav loj hlob ntawm 23^rd Lub Peb Hlis 2025. Nws muaj 7.19% paj laum txhua xyoo. Tsis tas li ntawd, cov nyiaj txais yog collateralized nrog 19,466 BTC txhais tau hais tias lub tuam txhab yuav tsum tau them rov qab cov nyiaj txais nyob rau hauv cov nqe lus ntawm BTC yog hais tias tus qiv-rau-tus nqi (LTC) piv yog txo mus rau 25% los yog tsawg tshaj li 25%. Tsis tas li ntawd, tau muaj $ 5M collateralized cash reserve account rau cov nyiaj txais no.

Lub Sijhawm Debt Health

Raws li, MicroStrategy muaj ntau dua 130k BTC ntawm nws qhov chaw pov tseg, muaj nqis $ 3.98B yog muag ntawm 30k, tab sis tsis yog txhua tus ntawm lawv koom nrog lub tuam txhab. Nws yog vim tias 30,051 BTC tau tuav pov hwm rau 2025 Secured Term Loan nrog Silvergate. Xav txog BTC tus nqi ntawm $ 16k, cov BTC no muaj nqis txog $ 480M. Tsis tas li ntawd, lub tuam txhab tau siv 14,980 BTC raws li kev lav phib xaub rau 2028 Senior Secured Notes, tawm hauv lub tuam txhab tsuas yog 85,059 kua BTC.

Kev txhawj xeeb tiag

MicroStrategy tau txais nyiaj qiv ntau thiab lawv tau collateralized ib feem ntawm lawv BTC quota tab sis nws tsis yog qhov kev txhawj xeeb tiag tiag. Qhov kev txhawj xeeb tiag tiag yog lub tuam txhab muaj peev xwm los pab cov paj laum ntawm nws cov nuj nqis tseem ceeb. Thaum xaus ntawm lub quarter rau 30^th Lub Cuaj Hlis 2022, lub tuam txhab tau tswj kom tau txais ntau dua $ 38M ntawm cov paj laum uas yog qhov poob qis hauv cov txiaj ntsig. Noj cov paj laum rau hauv tus account, nws yuav nyuaj heev rau lub tuam txhab mus txuas ntxiv nrog cov nyiaj qiv.

kawg xav

Raws li kev txhawj xeeb dhau los ntawm lub tuam txhab kev lag luam, yav tom ntej, thiab BTC tuav peev xwm, lub tuam txhab tseem tuav $ 67M ntawm cov nyiaj ntsuab thiab nyiaj ntsuab sib npaug nrog 85k BTC ntawm daim ntawv tshuav nyiaj. Txawm li cas los xij, yog tias qhov kev lag luam tam sim no txuas ntxiv mus ib ntus, qhov no yuav tsis txaus rau lub tuam txhab them cov nyiaj qiv rau xyoo tom ntej. Lub tuam txhab kev lag luam software xav tau los txhim kho cov txiaj ntsig zoo. Thaum kawg, ib yam yuav tsum tau muab sau tseg: "Microstrategy poses tsis muaj kev pheej hmoo tam sim ntawd rau lub lag luam Bitcoin."