"A Tribute to Michael Saylor: The True Tough Guy in the Bitcoin Downturn" Behind Michael Saylor's tough-guy image lies thorough preparation for black swan events. Strategy's earnings call indicated that only a Bitcoin drop to $8,000 and sustained for 5-6 years would impact Strategy's debt repayment ability. Let's quickly explain why $8,000 and 5/6 years are key: - Strategy's Bitcoin is uncollateralized, so regardless of price drops, there will be no liquidation; - Strategy's cash reserves can guarantee interest payments for at least 2.5 years; - Strategy's debt is long-term, with most maturing in 2029-2030, or 4-5 years from now; - Long-term debt is roughly equivalent to the value of its Bitcoin holdings at $8,000. Only then would insolvency arise. Therefore, Michael Saylor's resilience is commendable. What are your thoughts on Strategy's risks?

Remembering Feng Ge's quote , "All In isn't reckless, it's a meticulously planned triumph." @Web3Feng