According to The Kobeissi Letter, Michael Saylor currently holds 46.8% of the voting power in MicroStrategy, making it nearly impossible to pass any shareholder vote without his approval. This significant control allows Saylor to effectively block any fundamental changes within the company.

According to @KobeissiLetter, MicroStrategy (MSTR) may be compelled to liquidate its Bitcoin holdings if an early redemption is triggered on its notes due to a 'fundamental change' in the company. This highlights the risk of forced liquidation tied to credit agreements, which could impact MSTR's Bitcoin trading strategy.