🎬 Crypto's Public Market Disaster
Corporate Bitcoin treasuries were sold as permanent buyers, now they’re bleeding value and dumping coins to cover debts. This breakdown reveals the dangerous leverage, how the flywheel snapped, and why $13 billion in unrealized losses are just the start.
See how fragile the floor really is, how forced selling triggers a doom-loop, and the warning signs to watch before the next major move hits your portfolio.
➤ Corporate Bitcoin treasuries, once seen as permanent buyers, are now facing significant unrealized losses and potential forced selling due to high leverage and the collapse of their 'flywheel' strategy.
➤ The article details how the MNAV (Market Cap / Bitcoin Holdings) metric is crucial, with a value below 1x signaling a breakdown of the model and turning companies into forced sellers.
➤ Potential triggers for further selling include fixed debt and dividend obligations, shrinking cash reserves, and Bitcoin prices falling below critical existential levels for these firms.
#Bitcoin #Corporate Treasuries #Leverage #MicroStrategy #Market Volatility #Forced Selling #Doom Loop #MNAV
The Compass for the Tokenized Real-World Assets
Wednesday, June 24, 2026
Crypto's Public Market Disaster
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