{"id":103729,"date":"2026-06-15T18:33:03","date_gmt":"2026-06-15T18:33:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=103729"},"modified":"2026-06-15T18:33:03","modified_gmt":"2026-06-15T18:33:03","slug":"mstr-is-not-in-a-death-spiral-td-cowen-assesses-heres-what-bears-get-wrong","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=103729","title":{"rendered":"MSTR Is Not In A Death Spiral, TD Cowen Assesses: Here&#8217;s What Bears Get Wrong"},"content":{"rendered":"<div>\n<p>Benchmark and <strong>TD Cowen<\/strong> on Monday pushed back against death spiral fears surrounding <strong>Strategy Inc.<\/strong> <a class=\"ticker-link\" data-ticker=\"MSTR\" data-exchange=\"NASDAQ\" href=\"https:\/\/www.benzinga.com\/quote\/MSTR\" target=\"_blank\" rel=\"noopener\">(NASDAQ:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/MSTR\">MSTR<\/a>) as the stock surges 8% on <strong>Bitcoin\u2019s<\/strong> <a class=\"ticker-link\" data-ticker=\"BTC\" data-exchange=\"CRYPTO\" href=\"https:\/\/www.benzinga.com\/quote\/BTC-USD\" target=\"_blank\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) recovery above $66,000.<\/p>\n<h3 class=\"wp-block-heading\">Benchmark Says Strategy Has Several Buffers Before Bitcoin Sales Become Necessary<\/h3>\n<p>Benchmark analyst Mark Palmer <a href=\"https:\/\/www.theblock.co\/post\/404764\/strategy-supporters-rebut-death-spiral-fears-as-bitcoin-price-wobbles\">called<\/a> the death spiral narrative a story that skips several steps.\u00a0<\/p>\n<p>Strategy\u2019s $1 billion cash reserve must be depleted before any meaningful Bitcoin sales enter the conversation, and the perpetual preferred stock <a href=\"https:\/\/www.benzinga.com\/quote\/STRC\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"STRC\" data-exchange=\"NASDAQ\" rel=\"noopener\">(NASDAQ:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/STRC\">STRC<\/a>) carries no hard maturity date that would trigger accelerated selling.<\/p>\n<p>\u201cThe death-spiral story assumes that Strategy is one bad week from selling Bitcoin, and it skips several steps to get there,\u201d Palmer wrote.\u00a0<\/p>\n<p>\u201cThe company would have to move through a long sequence of failures before its Bitcoin reserve, currently valued at almost $55 billion, would even enter the conversation,\u201d he &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/06\/53207151\/mstr-is-not-in-a-death-spiral-td-cowen-assesses-heres-what-bears-get-wrong?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"MSTR\" is not in a death spiral td cowen assesses: here what bears get wrong>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Benchmark and TD Cowen on Monday pushed back against death spiral fears surrounding Strategy Inc. (NASDAQ:MSTR) as the stock surges 8% on Bitcoin\u2019s (CRYPTO: BTC) recovery above $66,000. Benchmark Says Strategy Has Several Buffers Before Bitcoin Sales Become Necessary Benchmark analyst Mark Palmer called the death spiral narrative a story that skips several steps.\u00a0 Strategy\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-103729","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/103729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=103729"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/103729\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=103729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=103729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=103729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}