Bitcoin drops another 9%, Strategy holdings turn into losses... "Buying strategy is over"
Summary
- It was reported that if Bitcoin falls an additional 9% from the current price, Strategy's holdings will turn into losses.
- It was stated that if shareholders force a sale, the Bitcoin price could fall below $20,000.
- Strategy holds 528,185 BTC, with an average purchase price of $67,458.
As the decline in the virtual asset (cryptocurrency) market deepens, it has been assessed that Strategy's Bitcoin (BTC) buying strategy is facing a crisis.
On the 7th (local time), Jacob Weilwire, a virtual asset analyst, stated on X, "If Bitcoin falls another 9% from the current price, Strategy's Bitcoin holdings will turn into losses," and evaluated, "Everything is over." He continued, "In this case, shareholders may force the sale of Bitcoin, eventually leading to a 'death spiral' where Bitcoin falls below $20,000," and added, "Michael Saylor, the founder of Strategy, was a loser during the dot-com bubble. History is repeating itself."
Meanwhile, Strategy holds 528,185 BTC, with an average purchase price of $67,458.
As of 5:05 PM, Bitcoin is trading at $75,764 on the Binance USDT market, down 8.64% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
