Strategy may be forced to sell Bitcoin for debt repayment
News on April 9th, according to the 8-K form submitted by Strategy (formerly MicroStrategy) to the U.S. Securities and Exchange Commission (SEC) on April 7th, if Bitcoin prices continue to fall, Strategy may be forced to sell its Bitcoin holdings for debt repayment, breaking Michael Saylor's promise of "never selling Bitcoin".
In the 8-K form, Strategy mentioned that "since Bitcoin constitutes most of our assets on our balance sheet, if we cannot obtain equity or debt financing in a timely manner with favorable terms (or not at all), we may be forced to sell Bitcoins to fulfill financial obligations and might have to do so at a price lower than cost or other unfavorable prices."
According to data from Strategy Tracker, Strategy currently holds 528,185 BTCs with an average cost of $67,458 per coin and a value of $40.119 billion USD.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Chevron expects the upcoming storm will not affect the offshore areas of the US Gulf of Mexico.
Chevron (CVX.US): The company expects that the upcoming storm will not affect the U.S. Gulf of Mexico offshore region.
CME Federal Reserve Watch: Probability of a 25 basis point rate hike in December is 68%
According to CME "FedWatch", there is a 79.5% probability that the Federal Reserve will keep interest rates unchanged by October, and a 20.5% probability of a cumulative 25 basis point rate hike. By December, there is a 15.5% probability that rates will remain unchanged, a 68.0% chance of a cumulative 25 basis point increase, and a 16.5% probability of a cumulative 50 basis point rate hike.
Venezuela's Cardon refinery shut down due to fire, with daily processing capacity of 310,000 barrels
According to eight sources on Tuesday, Venezuela's Cardón refinery, the country's second largest with a daily processing capacity of 310,000 barrels, has suspended operations due to a fire at one of its processing units. Fires, power outages, and blackouts frequently occur at facilities operated by state-owned Petroleos de Venezuela (PDVSA), which may affect domestic supplies of essential fuels like gasoline and diesel. Two of the sources indicated that the fire began in a gas pipeline connected to the refinery's diesel hydrotreater, forcing the shutdown of the entire facility, including the boiler. According to informed sources and nearby residents, the blaze was extinguished in less than an hour after an explosion and the evacuation of personnel. No worker injuries have been reported at this time.
Brazil's oil exports reached 11.7 million tons in September, a record high and up 42.2% year-on-year.
According to statistics released by the Brazilian government on Tuesday, the country's oil exports reached a historic peak in September 2024, totaling 11.7 million tonnes. Domestic oil production increased and robust global market demand jointly drove up the export shipping volume for the month. The September export shipment volume has already surpassed the previous monthly record of 11 million tonnes set in March 2023. Compared with the same period last year, oil exports in September rose by 42.2%, and export revenues surged by 77.3%, reaching approximately $6.5 billion. This remarkable export performance was the result of record high Brazilian oil production and rising international market demand. Recent conflicts between the US and Israel and Iran have created pressure on global oil circulation; if shipping through the crucial Strait of Hormuz is disrupted, crude oil prices may soar. Meanwhile, Brazil’s oil production is benefiting from continuous expansion and development of its pre-salt oil fields, particularly the sustained capacity releases from the Buzios and Mero blocks in the Santos Basin, providing a solid supply foundation for export growth.
Crypto prices
More
