trade risk

"We're gonna need more charts." 👀 Those five words from Michael Saylor sent crypto Twitter into overdrive his customary signal that another Bitcoin purchase is incoming. But this time, the context is very different. Strategy now holds 847,363 BTC worth approximately $50.9 billion, with an average cost basis of $75,653 per coin across 113 separate buys. With $BTC trading around $60,000 Strategy is sitting on roughly $13 billion in unrealized losses. Here's where it gets complicated. Strategy's mNAV has dropped below 1.0 for the first time this cycle meaning the company now trades below the actual market value of the Bitcoin it holds. This matters because Strategy's entire buying engine depends on issuing new shares at a premium to buy more BTC. Below 1.22x mNAV, new share issuances become value-destructive for existing holders. The flywheel is stalling and critics are circling. Grayscale's Head of Research is urging Strategy to sell at least $3 billion in Bitcoin to cover obligations. Ripple CEO Brad Garlinghouse has called the debt structure harmful to Bitcoin itself. Yet Saylor isn't flinching. Strategy's latest purchase came June 22 520 BTC at $67,068 per coin. Is this conviction or a trap? Do you think Saylor's strategy is genius or reckless at these levels? 👇 ♻️ Repost so your network doesn't miss this Not financial advice. DYOR. 🔍 $ETH $BNB #SaylorHintsStrategyBitcoinBuy #Bitcoin #Crypto #MSTR #markets