MicroStrategy, the largest corporate holder of Bitcoin, is under growing scrutiny as market analysts warn of a potential Bitcoin price drop.
With Bitcoin trading near key levels, concerns are mounting over whether the company’s aggressive accumulation strategy will withstand a major downturn.
Source: X
Impact of Bitcoin Drop
MicroStrategy has gradually increased the size of its Bitcoin position by buying the crypto asset at different prices.
The company’s average purchase cost is around $68,000 per BTC. The average cost of purchase for Bitcoin ETFs has now fallen to the low $70,000s.
Markert analysts, including Arthur Hayes, believe that Bitcoin can be dragged down by as much as 30% with the price per coin possibly hovering around the low $70,000s.
If this happens, the company’s Bitcoin holdings would be just above the breakeven level. That means MicroStrategy’s approach will be tested. Jim Bianco of Bianco Research said,
“At this point, on an average cost
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