Odaily News MicroStrategy disclosed in the 8-K filing submitted to the U.S. SEC that as of March 31, 2025, its total outstanding debt was $8.22 billion, annual interest expenses were $35.1 million, and an additional $146.2 million in preferred stock dividends were required to be paid annually. Since the enterprise software business has not achieved positive cash flow, if the market value of Bitcoin drops sharply, the company may be forced to sell Bitcoin at a price below cost to fulfill its obligations, the risk of default will increase, and it may even be forced to enter bankruptcy or liquidation procedures. The company emphasized that its future financing capabilities are highly dependent on the market value of its Bitcoin assets and changes in market sentiment.