🚨 Bitcoin Dip Puts Strategy Underwater — But Conviction Holds

Bitcoin slipping below $75K has pushed Strategy’s entire BTC stack underwater on paper for the first time this cycle. With 712,647 BTC bought at an average of $76,037, the unrealized drawdown is now around $900M.

What matters is the reaction.

Michael Saylor posted “More Oranges” — a phrase he’s historically used right before fresh Bitcoin buys. No official announcement yet, but the signal is familiar to long-time watchers.

Even more telling: MSTR closed up +4.55%, despite BTC weakness. Equity markets seem to be pricing conviction and balance-sheet strength, not short-term price action.

The key detail many miss: Strategy’s Bitcoin is not collateralized. There are no margin calls, no forced selling. This is duration risk, not solvency risk.

The market isn’t testing leverage — it’s testing belief.
$BTC

#StrategyBTCPurchase #USCryptoMarketStructureBill #BinanceBitcoinSAFUFund