Benchmark Says Strategy Has Several Buffers Before Bitcoin Sales Become Necessary

Benchmark analyst Mark Palmer called the death spiral narrative a story that skips several steps. 

Strategy’s $1 billion cash reserve must be depleted before any meaningful Bitcoin sales enter the conversation, and the perpetual preferred stock (NASDAQ:STRC) carries no hard maturity date that would trigger accelerated selling.

“The death-spiral story assumes that Strategy is one bad week from selling Bitcoin, and it skips several steps to get there,” Palmer wrote. 

“The company would have to move through a long sequence of failures before its Bitcoin reserve, currently valued at almost $55 billion,…

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