New $BTC risk just dropped per JPMorgan:
US corporate treasuries (aka MicroStrategy-type plays) could flip from mega buyers to sellers. This shift would shake up the entire market structure.
The math: These companies need liquidity to cover 2-3 years of dividend payments. If they start unwinding positions to meet obligations, that's a serious supply overhang.
TL;DR — Corporate $BTC holders are no longer guaranteed diamond hands. Watch balance sheets closely.
US corporate treasuries (aka MicroStrategy-type plays) could flip from mega buyers to sellers. This shift would shake up the entire market structure.
The math: These companies need liquidity to cover 2-3 years of dividend payments. If they start unwinding positions to meet obligations, that's a serious supply overhang.
TL;DR — Corporate $BTC holders are no longer guaranteed diamond hands. Watch balance sheets closely.