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Bitcoin suddenly collapsed, directly bringing the "first big boss in the crypto circle" close to bankruptcy #特朗普新全球关税
A loss of 12.4 billion US dollars felt like a bucket of ice water dumped over the head, instantly cooling down the entire crypto circle. Michael Saylor, the man who once viewed Bitcoin as his lifeline, stated at the earnings conference something that shocked countless people: selling Bitcoin is also an option. It’s worth noting that this founder of Strategy has always presented himself as a permanent holder, even converting his salary into Bitcoin, yet he is now considering selling, which is more unsettling for many investors than the plunge in Bitcoin prices.
Once the price of Bitcoin starts to decline, this cycle turns into a death spiral. Assets shrink, stock prices plummet, financing channels break down, debt pressure rises, and ultimately, there may be no choice but to sell coins to repay debts. In early 2026, Bitcoin dropped from a high of 120,000 USD, breaking through the 60,000 mark, directly piercing through Strategy's cost line, causing paper losses to approach 9 billion US dollars at one point. According to accounting rules, these unrealized losses must be recorded in the financial report, resulting in a single-quarter loss of 12.4 billion.
Looking back at Michael Saylor's statement, it not only indicates a possible strategic adjustment for Strategy but is also part of the signals in the crypto circle. When someone who has long held up the banner of faith begins to consider financial realities, it is not just an internal financial strategy of a company but also a change in the psychological defenses across the entire crypto ecosystem. This change often acts like pressure transmission, extending from institutions to retail investors, and from on-chain data to market prices.
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A loss of 12.4 billion US dollars felt like a bucket of ice water dumped over the head, instantly cooling down the entire crypto circle. Michael Saylor, the man who once viewed Bitcoin as his lifeline, stated at the earnings conference something that shocked countless people: selling Bitcoin is also an option. It’s worth noting that this founder of Strategy has always presented himself as a permanent holder, even converting his salary into Bitcoin, yet he is now considering selling, which is more unsettling for many investors than the plunge in Bitcoin prices.
Once the price of Bitcoin starts to decline, this cycle turns into a death spiral. Assets shrink, stock prices plummet, financing channels break down, debt pressure rises, and ultimately, there may be no choice but to sell coins to repay debts. In early 2026, Bitcoin dropped from a high of 120,000 USD, breaking through the 60,000 mark, directly piercing through Strategy's cost line, causing paper losses to approach 9 billion US dollars at one point. According to accounting rules, these unrealized losses must be recorded in the financial report, resulting in a single-quarter loss of 12.4 billion.
Looking back at Michael Saylor's statement, it not only indicates a possible strategic adjustment for Strategy but is also part of the signals in the crypto circle. When someone who has long held up the banner of faith begins to consider financial realities, it is not just an internal financial strategy of a company but also a change in the psychological defenses across the entire crypto ecosystem. This change often acts like pressure transmission, extending from institutions to retail investors, and from on-chain data to market prices.
{future}(BNBUSDT)
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