Michael Saylor is freaking out right now because when Bitcoin drops, non-recourse lenders are entitled to the collateral (Bitcoin).
In this case, unless Saylor was able to massively dilute his shares to raise capital the lenders would simply take all of $MSTR's Bitcoin. https://t.co/d5Te7WktJZ pic.twitter.com/44WSSPgdSe
— Financelot (@FinanceLancelot) December 25, 2024
Yeah he's lying.
Non-recourse debt always has provisions for a drop in the underlying collateral.
— Financelot (@FinanceLancelot) December 25, 2024