Strategy CEO: Bitcoin would need to crash to 8,000 and stay years before balance-sheet risk
TL;DR
Strategy CEO Phong Le said the balance sheet is safe unless Bitcoin falls to about $8,000 and remains there for five to six years; the company posted a $12.6 billion quarterly net loss from unrealized BTC losses as Bitcoin traded around $64,800, while Michael Saylor dismissed quantum-threat concerns as 'horrible FUD' and announced a Bitcoin Security program to bolster resilience amid the crypto sell-off.
- Strategy CEO: Bitcoin would need to plunge to $8,000 before balance sheet issues The Block
- Strategy’s Michael Saylor Posts Four-Letter Response to Selloff The Wall Street Journal
- Saylor’s Crypto Project Pounded After $12.4 Billion Loss bloomberg.com
- Strategy Slides Even Further on Earnings Miss After Dismal Day Barron's
- Bitcoin Dive Puts Strategy Under Water, Facing Do-Or-Die Choice Investor's Business Daily
Want the full story? Read the original reporting
Read on The Block