Quick Read
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Strategy (MSTR) sold 32 Bitcoin at $77,135 per coin to fund preferred stock obligations, breaking its “never sell” doctrine while holding 843,076 Bitcoin at an average cost of $75,699 per coin that is now underwater as Bitcoin trades around $67,338.
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A potential negative feedback loop emerges where lower Bitcoin prices increase pressure on MicroStrategy’s balance sheet, potentially forcing additional sales that could further depress Bitcoin prices, undermining the company’s core investment thesis.
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The analyst who called NVIDIA in 2010 just named his top 10 stocks and MicroStrategy wasn’t one of them. Get them here FREE.
For years, one of the most powerful narratives in the cryptocurrency market…