CoinVoice has learned that Arca Chief Investment Officer Jeff Dorman posted on X platform stating that the biggest risk MSTR faces is not being delisted by MSCI or a drop in BTC price. Being delisted by MSCI has only a minor negative impact on stocks and is irrelevant to Bitcoin; since MSTR has over 2 years of cash reserves and no forced sale clauses, a decline in BTC price will not force MSTR to sell.
He believes the real risk is that BTC prices rise while MSTR's stock price stagnates. If MSTR no longer tracks BTC prices and its trading price is far below mNAV, it will be unable to raise funds through ATM, and will have to consider selling BTC to buy back shares.
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CoinVoice has learned that Arca Chief Investment Officer Jeff Dorman posted on X platform stating that the biggest risk MSTR faces is not being delisted by MSCI or a drop in BTC price. Being delisted by MSCI has only a minor negative impact on stocks and is irrelevant to Bitcoin; since MSTR has over 2 years of cash reserves and no forced sale clauses, a decline in BTC price will not force MSTR to sell.
He believes the real risk is that BTC prices rise while MSTR's stock price stagnates. If MSTR no longer tracks BTC prices and its trading price is far below mNAV, it will be unable to raise funds through ATM, and will have to consider selling BTC to buy back shares.