Chaitanya Jain, Strategy’s Bitcoin strategy manager, has addressed the recent concerns spread on social media about the potential dependence of Strategy’s success on the Bitcoin price. Some in the community believe that if the world’s largest cryptocurrency, BTC, were to collapse, Strategy’s stock price would follow suit, and the company may face substantial financial difficulties.
Strategy will survive even if BTC crashes 98%: executive
In his tweet, Jain assured the community and those who are in doubt that should Bitcoin crash even as low as $20,000, the BTC treasury company Strategy “would still have sufficient collateral to cover all liabilities.”
Michael Saylor’s company now holds 601,550 Bitcoin worth $71,140,265,480, which is more than enough to cover its debt, Jain hints. A major increase in BTC holdings took place earlier this week, when the executive chairman of the largest Bitcoin treasury company, Saylor, spread the word about yet another BTC acquisition made by the company. Strategy then purchased 4,225 BTC for a substantial $472.5 million raised through selling debt in the form of MSTR and convertible Bitcoin-backed stocks – STRK, STRF, and STRD.
The Bitcoin strategy manager thus stated that Strategy is a fortress against Bitcoin market volatility, rather than a house of cards, as some prefer to call this largest BTC treasury company.
Chaitanya Jain also reminded the crypto community that over the past year, Strategy has raised a mind-blowing $35 billion to accumulate Bitcoin. He noted there is a trend of BTC treasury companies beginning to shift the direction in which investment in the banking sphere is shifting.
“Finance bros are becoming Bitcoiners,” the executive stated.
Strategy rakes in $291 million in Bitcoin gains
On Tuesday, the co-founder of Strategy and its former CEO, Bitcoiner Michael Saylor, published an X post about the recent profits generated by the company for its shareholders.
He bragged that over the past week, Strategy’s BTC treasury operations generated a total BTC gain of 2,485 Bitcoins for its shareholders. This amount of crypto is equal to $291 million. As for the year-to-date BTC gains, they have constituted a whopping 90,337 BTC worth $10,569,745,179.50.
