Wu Blockchain (@WuBlockchain): Arca CIO Jeff Dorman: MSTR Situation Has Gotten Out of Hand

Arca CIO Jeff Dorman: MSTR Situation Has Gotten Out of Hand Arca CIO Jeff Dorman said MSTR’s situation has “gotten out of hand,” arguing that Strategy’s roughly $15 billion in preferred stock carries about $1.5 billion in annual dividends. He said the company raised $2 billion in cash via stock to ease near-term default concerns, but later used the cash buffer to buy back 2029 bonds instead of funding dividends. Dorman said MSTR, BTC and preferred shareholders are now “really in a bind” for the first time, and that someone may “lose badly” within the next four months. https://x.com/jdorman81/status/2060063924582830127