Explode! Bitcoin fell below 58,000, triggering a "micro-strategy crisis". Strategy is facing a floating loss of 13 billion. Is it becoming the biggest time bomb in the crypto market?

Оригинальный автор：AI说区块链

Первоисточник：https://www.youtube.com/embed/2CUCekggavQ

Strategy holds 847,000 BTC, with floating losses exceeding US$13 billion, MSTR falling below US$86, and STRC discounting by more than 24% to US$73.62. The annual dividend is US$1.2-1.7 billion, and only US$1.4 billion in cash can cover about 10 months. Bitcoin ETF saw $6.35 billion in outflows in six weeks. Saylor's first coin sale broke the "never sell" narrative, the financing flywheel reversed, and the encryption market faced a systemic risk test. 👉【Content Outline】 ✅ Volatility tests every capital structure ✅ How does the MSTR flywheel work ✅ What does it mean to sell Bitcoin for the first time ✅ Preferred stocks fall below par value and the financing engine fails ✅ What will happen if Strategy collapses the market ✅ The rite of passage moment of crypto financialization [Previous highlights] https://youtu.be/sq-VFP1OXSE https://youtu.be/rnTo7VWkPl4 https://youtu.be/RjslIsQ50Jo https://youtu.be/CqLsd5l2iF8 https://youtu.be/CAlnXbm2u1Q https://youtu.be/cY2P6dfk3hw [Main content of this video] Strategy is facing the most severe capital structure stress test in corporate history. As of June 27, 2026, Bitcoin was fluctuating at a low level near the US$60,000 mark, and once fell below US$58,000 during the session, setting a new low since October 2024. Strategy holds approximately 847,000 Bitcoins, accounting for approximately 4% of the total global supply, and the average holding cost is approximately US$75,651. On a mark-to-market basis, the company faces unrealized losses of more than $13 billion. MSTR common stock fell below US$100 intraday on June 25, hitting a low of US$92.5 for the first time since March 2024; it further fell to US$86 on June 26, the lowest closing price since February 2024. The flagship preferred stock STRC fell to a historical low of $73.62 during the same period, a discount of more than 24% from the face value of $100 - which means that financing channels have essentially been closed. The company needs to pay about US$1.2 to US$1.7 billion in cash dividends for preferred shares every year, and its cash reserves have dropped to about US$1.4 billion from US$2.25 billion at the beginning of the year, a 38% shrinkage. Dividend coverage capacity plummeted from "more than seven years" to about 14 months. At the same time, the Bitcoin spot ETF has recorded net outflows for six consecutive weeks, with a cumulative outflow of approximately US$6.35 billion within 30 days, setting a historical record since the launch of the product in January 2024. Ripple CEO Brad Garlinghouse publicly criticized Saylor’s Bitcoin accumulation strategy as “already hurting the entire market.” At the end of May, Strategy sold 32 Bitcoins for the first time to pay dividends. Saylor later clarified: "I said 'you' should never sell your Bitcoins. I never said the company must never sell." This statement broke the "never sell" narrative and further shook market confidence. Strategy's dilemma is not a problem for one company, but a microcosm of the entire crypto-financialization process - when "digital gold" meets modern financial engineering, the seemingly invincible strategy in the bull market is exposing all its structural cracks in the bear market. [Note⚠️, cryptocurrency is a high-risk investment, and you may lose all your principal. If you don’t understand it, it is recommended not to participate. This video does not have any investment advice, it is only for information sharing] Become a member of this channel to enjoy the following benefits: https://www.youtube.com/channel/UCV1mqrHkQoDaK6dWed5g8KQ/join