#StrategyBitcoinPositionTurnsRed 🧠 Let's clarify this first
Companies like ( the old MicroStrategy):
Are not trading BTC
They hold it as part of their corporate reserve assets / long-term store of value thesis
So their game is:
“Endure volatility, play the long-term scarcity.”
Therefore, unrealized losses = in their view,
not a thesis breakdown, but a temporary accounting effect.
📉 So what do declines change?
1️⃣ They create pressure on the balance sheet
As the price drops:
Asset value decreases
Equity ratios are affected
Risk perception increases for those borrowing to buy
This leads to:
➡