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🚨BREAKING: Bitcoin just dumped below Michael Saylor’s average buying price with an unrealized loss of $900 million. Does this mean $MSTR will go bankrupt soon and start selling BTC ? No. Let’s understand why. 👇 This is not the first time Strategy has seen Bitcoin trade below its average purchase price. In the last cycle, Strategy’s average cost was around $30,000. Bitcoin later dropped to nearly $16,000, more than 45% below their cost. Despite that, Strategy did not sell any Bitcoin and faced no forced liquidation. Because Strategy’s Bitcoin is not used as collateral. There are no margin calls tied to Bitcoin’s price. Their debt is primarily unsecured and most maturities are in 2028-2030, not near term. Total debt is roughly $8.24B, while their Bitcoin holdings are still worth $53.54 billion, even at current prices. And now, Strategy has even set aside 2.5 years of cash runway to cover interest and dividend payments. This means they do not need to sell Bitcoin to meet obligations, even if BTC stays below cost for some time. This is why we explained this exact scenario in our earlier post, the idea that a short move below average cost triggers forced selling does not match how Strategy’s balance sheet works. Yes, Saylor has acknowledged that if Bitcoin stays well below cost for a very long period, selling BTC could eventually be considered. But a short term move below average cost does not change their liquidity, solvency, or ability to hold Bitcoin. If you want the full breakdown, revisit our earlier analysis 👇