Strategy CEO: Bitcoin Would Need to Fall to $8,000 and Stay There for Years to Threaten Its Debt Repayment

Odaily News: Phong Le, CEO of MicroStrategy, stated during the company's Q4 financial results webinar that Bitcoin would need to drop to $8,000 and remain at that level for five to six years to pose a genuine threat to repaying its convertible debt. MicroStrategy's Executive Chairman, Michael Saylor, also dismissed concerns about quantum computing's impact on Bitcoin, calling it "terrible FUD."

MicroStrategy reported a net loss of $12.6 billion for the quarter, primarily due to unrealized losses on its digital asset holdings as Bitcoin's price fell below the company's average acquisition cost. MicroStrategy's CFO, Andrew Kang, said, "These results were clearly impacted by the decline in Bitcoin's market value at quarter-end, and we employ a mark-to-market accounting method." However, Kang noted the company's long-term strategy, adding, "We will continue to execute our established strategy, even amidst market volatility." (The Block)