2026-01-17 16:21:51

The batch of 29-year zero-coupon bonds issued by MSTR has become a thing of the past. It’s basically impossible to get such interest-free financing anymore. In contrast, the company's already issued preferred shares have annual interest expenses exceeding 300 million, and what's more painful is that this expense is increasing year after year.

Looking at the potential growth of BTC in the next few years, honestly, it’s hard to see a 3x increase. Compared to the current annualized cost of shorting at about 10%, as long as the short position can withstand three years without liquidation, the pressure the company will face when the 29-year bonds mature is easy to imagine. By then, MSTR will very likely be in trouble. This time-for-space logic indeed carries significant risks for holders.

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PanicSeller

· 01-19 15:57

The 29-year bond is maturing, MSTR probably has to dump coins in a panic. Brothers still dare to take over? The risk is indeed a bit high. Preferred stock interest of 300 million is still rising. What is this company thinking? Triple growth? Do you think BTC is like a big A-share? Haha. Hold steady on the short positions, just watch the show until 29 years. Financing is getting more expensive, indicating that credit is getting worse. Are there still people bottom-fishing MSTR? I really don’t dare anymore. The day the bonds explode should be very lively, stock up on popcorn in advance.

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LightningWallet

· 01-17 16:51

Zero-coupon bonds are discontinued, and the subsequent financing costs are rising sharply. MSTR is getting increasingly hot to handle.

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NotAFinancialAdvice

· 01-17 16:31

MSTR needs to find a way to save itself before the 2029 bonds mature, or it will really blow up.

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fork_in_the_road

· 01-17 16:31

The 2029 bond issue, to put it simply, is MSTR locking itself in. This wave of short sellers really hit the mark; as long as they hold on, they can wait to reap the rewards.

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FomoAnxiety

· 01-17 16:28

Looking at MSTR becoming more and more complicated, honestly, it's a bit虚 (vague/uncertain). 3x growth? Bro, are your expectations a bit too optimistic? In 2029, bond pressure is indeed high, interest expenses are still rising, and it feels like it will be tough later on. Shorts lying for 3 years waiting for an explosion? I really don't have that patience, too worried. Instead of obsessing over this, it's better to look at other opportunities. I've completely seen through MSTR's套路 (strategy/套路), it's not very interesting.

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