"MicroStrategy's Bitcoin Buying Spree Raises Concerns Over Debt and Market Impact"

JPMorgan warns that MicroStrategy's massive debt-fueled bitcoin purchases could exacerbate a future downturn in the cryptocurrency market. MicroStrategy, led by Michael Saylor, aims to acquire as much bitcoin as possible and has amassed a stash valued at over $14 billion. Using leverage and cheap capital, the firm has bought $1 billion of bitcoin this year and plans to offer another $500 million of convertible debt to continue its purchases. Concerns about excessive leverage in the bitcoin rally have also been raised by other commentators, including Galaxy CEO Mike Novogratz, who anticipates a correction in the market.