Bernstein: MicroStrategy Only Under Pressure to Liquidate Bitcoin Holdings in Extreme Prices

MicroStrategy 's (MSTR ) long -term debt plan puts pressure on it to liquidate its bitcoin holdings , but only in the face of extreme price corrections , especially around debt maturities in mid -2025 , Bernstein said in a report . According to the report , the rising bitcoin price means MicroStrategy has a stronger balance sheet , higher stock price and easier debt repayment without having to sell off its cryptocurrency holdings . In addition , a strong Bitcoin price and higher stock price allows the company to raise new debt or equity and redeem existing convertible notes . Conversely , if Bitcoin were to plummet to an absolutely depressed price and the value of MicroStrategy 's cryptocurrency holdings were unable to cover its debt and certain covenants after June 2025 , the company 's structure would come under pressure for early repayment provisions .