MicroStrategy boasts: Bitcoin will have a solid support on the balance sheet even if it falls to $25,000.

MicroStrategy confirmed that even if the price of Bitcoin falls to $25,000, its debt-to-asset ratio will remain at 2.0 times, far below its average purchase cost of $74,000.

The company's stock price has fallen by 49% and faces the risk of being removed from the MSCI index, with a decision expected to be made by January 2026. MicroStrategy's $16 billion in debt is supported by Bitcoin at a ratio of 3.6 times, demonstrating strong resilience. The total amount of convertible bonds held is $8.214 billion, with a BTC rating of up to 6.9 times; the total amount of preferred stock is $7.779 billion, with a BTC rating of 3.6 times. Overall, the company's total debt including preferred stock amounts to $15.993 billion, currently supported by more than three and a half times the value of Bitcoin assets.

(Source: Strategy Credit Dashboard)

MicroStrategy holds 649,870 Bitcoins, with a total value of approximately 56.99 billion USD, making it the largest corporate Bitcoin holder in the world. This provides significant financial stability and strategic flexibility, even if Bitcoin falls sharply, it does not affect the robustness of the balance sheet.

Despite facing market downturns and index uncertainty, the company is still taking measures to diversify risk. Over the past two months, MicroStrategy has transferred approximately 165,700 Bitcoins from the largest compliant exchange in the U.S. to Fidelity Custody, with a total value of about $14.5 billion, to reduce custody risk.

Overall, despite increasing market pressures, significant stock price falls, and rising index risks, MicroStrategy still possesses a strong Bitcoin buffer and over-collateralization, with a robust balance sheet providing long-term stability in the volatile crypto market.