Feb 16, 2026 4:44 PM

MicroStrategy's claim that it can withstand a Bitcoin crash to $8,000 and still fully cover its $6 billion debt is a dangerous illusion. A 1.0x coverage ratio, where Bitcoin holdings merely match debt, offers zero margin for error in such a volatile market, making their "solvency" incredibly precarious. Is this truly a sustainable strategy, or just a gamble on future recovery?
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