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MicroStrategy, a business intelligence company co-founded by Bitcoin powerhouse Michael Saylor, has significantly strengthened its Bitcoin acquisition strategy, with holdings exceeding 400,000 BTC.
However, concerns have been raised about the company's financial stability in relation to Bitcoin prices, particularly from CryptoQuant CEO Ki Young Ju. Ju warned that while it's not impossible that MicroStrategy could face bankruptcy, it would require an event as unlikely as “an asteroid hitting Earth.”
MicroStrategy's financial risk as Bitcoin price floor remains at $30,000
In a recent post on He said that it has not fallen below. He pointed out:
MicroStrategy has $7 billion in debt and its Bitcoin holdings are valued at $46 billion. Based solely on Bitcoin, the liquidation price would be approximately $16,500. The bottom of the last cycle was $16,000. Now, talking about a drop to that level feels as unlikely as predicting Bitcoin to hit $3,000 when it was $60,000.
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In the context of current price movements, CryptoQuant noted that the price surge towards BTC's all-time high of over $108,000 on Tuesday was fueled by short-term liquidations totaling approximately $151 million in the past 12 hours. .
The company notes that during this surge, the Bitcoin-to-gold ratio also reached an all-time high, reinforcing Bitcoin's reputation as “digital gold” and as a preferred store of value compared to traditional gold assets. He revealed that he had confirmed his role.
Additionally, MicroStrategy's recent inclusion in the Nasdaq 100 strengthened market sentiment. Saylor indicated he would buy more Bitcoin even if the spot price exceeds $100,000.
CryptoQuant claims that this inclusion could lead to passive capital inflows into MicroStrategy stock, making it easier for the company to access funds for Bitcoin acquisitions.
BTC purchases for 6 consecutive weeks
Saylor said on Monday that MicroStrategy has bought the major cryptocurrencies on the market for the sixth consecutive week. The deal adds to the company's sizable Bitcoin portfolio. Currently at 439,000 BTC, it was acquired for approximately $27.1 billion at an average price of $61,725 per coin.
Additionally, Saylor revealed that the company's Bitcoin assets are generating significant profits, increasing by 46.4% quarter-to-date (QTD) and 72.4% year-to-date (YTD).
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CryptoQuant also noted that this week’s central bank meeting appears to be secondary to market sentiment surrounding Bitcoin. While that remains extremely unlikely, the “extremely dovish attitude” of the Federal Reserve and Chairman Jerome Powell could provide the momentum needed for further gains in BTC.
The daily chart shows the price of BTC falling towards $104,000. Source: BTCUSDT on TradingView.com
At the time of writing, BTC is trading at $104,140, down 2.6% on the 24-hour timeframe, but still up 6.5% on the weekly timeframe.
Featured image from DALL-E, chart from TradingView.com
