MicroStrategy's Financial Strategies and Bitcoin Holdings

This chapter explores the complexities of owning MicroStrategy stock compared to direct Bitcoin ownership, focusing on the company's financial strategies. It examines how the impending changes in accounting rules may influence investor perceptions and outlines the role of convertible debt in enhancing MicroStrategy's balance sheet. Additionally, the discussion addresses the implications of increased leverage and the associated risks for both bondholders and equity holders amidst Bitcoin's price fluctuations.