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THE IMPOSSIBLE JUST HAPPENED.
The biggest corporate Bitcoin holder on earth is now valued less than the Bitcoin it owns.
They hold 650,000 $BTC
Worth $86,200 each today = $56B
But the company’s market cap is $45.7B
Wall Street is pricing the business at negative $10B.
$MSTR is down 57% since October.
The flywheel that built this empire has reversed.
Forced selling risk is real.
Break-even price: $74,436.
This isn’t just about one company and it’s a stress test for corporate Bitcoin adoption.