Strategy CEO: Bitcoin would need to drop to $8,000 and stay at that price for 5 years to threaten its debt repayment
According to Odaily, Strategy CEO Phong Le stated during Strategy's fourth-quarter financial results webinar that bitcoin would need to fall to $8,000 and remain at that level for five to six years before it would pose a real threat to repaying its convertible debt. Strategy Executive Chairman Michael Saylor also dismissed concerns about quantum computing in bitcoin, calling it "scary FUD."
Strategy reported a net loss of $12.6 billion for the quarter, mainly due to bitcoin's price falling below the company's average acquisition cost, resulting in unrealized losses on its digital asset holdings. Strategy CFO Andrew Kang said, "These results were clearly impacted by the decline in bitcoin's market value at the end of the quarter, as we use a mark-to-market accounting method." However, Kang also pointed out that the company is taking a long-term approach, adding, "Even in volatile markets, we will continue to execute our established strategy." (The Block)
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