Chainfeeds 导读：
本文将重点探讨 MicroStrategy 的债券结构，并分析在债券人要求现金赎回的情况下，MicroStrategy 是否可能被迫出售比特币以偿还债券持有人。基于目前的债务结构，我们认为发生强制清算的可能性极低。然而，鉴于比特币价格的剧烈波动，一切皆有可能。
文章来源：
https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFD...

Chainfeeds 导读：本文将重点探讨 MicroStrategy 的债券结构，并分析在债券人要求现金赎回的情况下，MicroStrategy 是否可能被迫出售比特币以偿还债券持有人。基于目前的债务结构，我们认为发生强制清算的可能性极低。然而，鉴于比特币价格的剧烈波动，一切皆有可能。文章来源：<a href="https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFDg" rel="nofollow">https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFDg</a>文章作者：BitMEX Research<hr><a href="https://chainfeeds.substack.com/" rel="nofollow"><img src="https://static.fwimg.io/img/feed/b2eaa29be3ce3765a63fefff08e60a8a.jpg" alt="https://chainfeeds.substack.com"></a>

解读 MicroStrategy 的债券结构：狂买比特币是否安全？熊市会否被强制清算？

Chainfeeds Digest:
This article will focus on analyzing the bond structure of MicroStrategy and whether MicroStrategy may be forced to sell Bitcoin to repay bondholders in the event that bondholders demand cash redemption. Based on the current debt structure, we believe the possibility of a forced liquidation is extremely low. However, given the violent fluctuations in Bitcoin prices, anything is possible.
Source:
https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFD...
'CRO' must be translated into 'CRO'.
'HT' must be translated into 'HT'.

Chainfeeds Summary:This article will focus on the bond structure of MicroStrategy and analyze whether MicroStrategy may be forced to sell Bit to repay bondholders if bondholders demand cash redemption. Based on the current debt structure, we believe the possibility of forced liquidation is extremely low. However, given the violent fluctuations in the price of Bit, anything is possible.Source:<a href="https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFDg" rel="nofollow">https://mp.weixin.qq.com/s/DoxIbnA1JPiO6tE7DldFDg</a>Author:BitMEX Research<hr><a href="https://chainfeeds.substack.com/" rel="nofollow"><img src="https://static.fwimg.io/img/feed/b2eaa29be3ce3765a63fefff08e60a8a.jpg" alt="https://chainfeeds.substack.com"></a>

Interpreting MicroStrategy's bond structure: Is it safe to buy Bitcoin crazily? Will there be forced liquidation in the bear market?

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