Is Strategy Becoming A Risk To The Bitcoin Bull Market?
Bitcoin‘s (CRYPTO: BTC) long-term price stability could increasingly depend on corporate treasuries rather than organic market demand, according to analysts raising concerns about Strategy‘s (NASDAQ:MSTR) capital strategy and the broader role of treasury-driven buying in setting floors.
What Happened: Nick G., an independent market analyst, argued that Strategy’s credibility in raising capital has eroded.
“Saylor flat out lied when he said he would not issue again below 2.5x mNAV. Trust is lost,” he said on Tuesday on X, warning that the company may find it “almost impossible to issue” further instruments.
Nick G. suggested Strategy could ultimately resemble “a cash bleeding closed end fund” if common equity issuance and dilution remain its only viable options.
He added that collapsing Bitcoin volatility, combined with MicroStrategy’s stock trading …
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