Strategy CEO Phong Le Says Bitcoin Can Drop Below $10,000 Without Putting Stress on MSTR. Here's Why He's Right.
The largest Bitcoin treasury company is still navigating the ongoing cryptocurrency bear market.
Overview
Bitcoin is still in the middle of a bear market. It's trading 49% off its record (as of July 28).
Consequently, Strategy (NASDAQ: MSTR) is also feeling the pain, with shares 80% below their peak. But the management team gave investors some hope, helping manage what has been a difficult period.
Details
Phong Le, who has been the company's chief executive officer since 2022, said that the most valuable cryptocurrency's price could drop all the way to $8,000-$10,000, about an 86% decline, before causing potential stress on the balance sheet.
Source
Originally published at www.fool.com.
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