According to BlockBeats, Matrixport's recent analysis highlights that Strategy remains a significant beneficiary in the current Bitcoin bull market. Concerns have been raised about whether the company might be forced to sell its Bitcoin holdings to repay debts. However, based on the current asset-liability structure and debt maturity distribution, the likelihood of such a scenario occurring in the short term is considered low and not a primary risk factor.
Investors who bought in at high premiums are currently under the most pressure. Most of Strategy's financing occurred when the stock price was near its historical peak of $474, and the net asset value (NAV) per share was at its highest. As the NAV gradually declined and premiums compressed, the stock price fell from $474 to $207, resulting in significant unrealized losses for those who entered at high premium levels.
Using the current Bitcoin price increase as a reference, Strategy's stock price has significantly retreated from its previous highs, making its valuation relatively more attractive. Additionally, there is still an expectation of being included in the S&P 500 index in December. Despite this, the recent adjustment serves as a reminder that both timing and valuation are crucial, and investors need to exercise caution in controlling entry prices and timing their purchases.
Anais
