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Arca's Chief Investment Officer Jeff Dorman refuted claims that Saylor's strategy (MSTR) faces risks of forced Bitcoin sales.
Michael Saylor('s MicroStrategy is once again facing scrutiny for its leveraged Bitcoin strategy. Peter Schiff) predicts that the company will go bankrupt, its preferred shares will fall into a “death spiral,” and he has publicly challenged Saylor to a debate. However, Arca's Jeff Dorman( defends the company, pointing out that Saylor's 42% ownership can prevent hostile acquisitions, there are no liquidation clauses on the debt, and its traditional software business can support manageable Interest expenses. Despite a slight rise in Bitcoin, MicroStrategy's stock fell 4.22% to $199.74 on Friday, down 33.42% year-to-date, with its diluted net asset value multiple close to 1.06 times. The trading price of Bitcoin is around $94,293, down 1.2% in the last 24 hours.