The company faces significant headwinds as its market value has fallen below the value of its Bitcoin holdings. It was excluded from the S&P 500 and faces potential removal from MSCI indices due to its substantial Bitcoin exposure, which could limit institutional investment. A prominent short seller closed his position against the company. While management reassures investors that its balance sheet can withstand a severe Bitcoin price drop to $25,000, its interest costs on preferred stock are set to rise to maintain access to capital for buying more Bitcoin.