šØ THIS IS INSANE!!!
I canāt believe Iām even typing this, but here we are.
The biggest corporate Bitcoin holder on the planet is officially worth less than the Bitcoin it owns.
Read that again. Let it sink in.
Theyāve got 650,000 BTC on the books, or roughly $55.9B at todayās price.
Their entire market cap?
$45.7B.
Wall Street is basically saying:
āYeah, your Bitcoin stack is cool, but your company? Thatās a $10B liability.ā
This isnāt some glitch.
This isnāt a one-day anomaly.
This is the first real, sustained inversion since they started this crazy Bitcoin-hoarding experiment.
The same machine that accumulated 3.1% of all Bitcoin that will ever exist is now being valued like the Bitcoin doesnāt even matter.
And hereās the part most people donāt know about:
They just scrambled to build a $1.44B cash reserve so they can keep paying dividends.
For the first time in half a decade, the CEO hinted, very carefully, that selling Bitcoin is on the table āif absolutely necessary.ā
The stock has fallen 57% since October 6.
The premium they lived on is completely gone.
The loop that turned a $250M bet into a $56B empire? Itās spinning in reverse.
And things get uglier.
In just 44 days, MSCI decides whether to kick them out of global indexes.
JPMorgan says that would trigger $8.8B of forced selling.
You donāt need a PhD to know what that would do to the price.
Letās talk numbers:
$8.2B in debt.
$7.8B in preferred shares.
$16B in obligationsā¦ backed by a company the market now values as an empty shell.
Their average Bitcoin cost: $74,436.
Theyāre sitting just 15% above break-even.
One bad move in the market and five years of ānumber go upā disappears overnight.
And this isnāt just about them anymore.
This is the real test:
Can a corporation hold hard money without the legacy financial system ripping it to shreds for trying?
The biggest Bitcoin experiment in corporate history is cracking right in front of us.
January 15, 2026.
Circle that date.
Weāre officially entering the chaos chapter.
