#美联储恢复降息进程 recently noticed a warning signal - the CEO of MicroStrategy publicly stated that if the company's mNAV indicator falls below 1.0, they do not rule out selling Bitcoin.

The risk points for such coin-holding enterprises have actually been previewed in the market long ago. Currently, their mNAV is still around 1.13, which seems relatively healthy. However, the problem is that once a liquidity crisis occurs, it can easily trigger a vicious cycle of double killing for both stock prices and coin prices - stock prices fall, leading to the need to sell coins to stop losses, selling coins further depresses coin prices, and the drop in coin prices then feeds back into stock prices.

MicroStrategy holds a massive amount of Bitcoin on its balance sheet, and if this volume were to be dumped into the market, the chain reaction it would trigger might not be small. For those friends with heavy positions, this variable still needs to be watched closely.

There are always people in the market talking about various doubling opportunities, such as tenfold coins and hundredfold coins. I think that instead of chasing the ups and downs, understanding the position movements of these big players might be more practical. After all, whether the market rises or falls often depends on how these whales move.