TechFlow, September 26 — Bitcoin price dropped below the $110,000 support level. Peter Schiff warned that crypto treasury companies like MicroStrategy (MSTR) are facing a "brutal bear market," raising concerns about the sustainability of their business models.
MicroStrategy, known as a "Bitcoin proxy" due to its substantial Bitcoin holdings, has a stock price closely tied to Bitcoin's performance. Despite weak Bitcoin prices, MSTR continues to aggressively accumulate Bitcoin, recently purchasing another 850 BTC, which has intensified its financial risks. A BiyaPay analyst cautioned that if MSTR's stock price breaks below its current support level, it could fall further to $240, exposing the company to greater risks.
BiyaPay offers zero-fee spot, futures, and USDT trading for U.S. and Hong Kong stocks, providing users with more choices and helping reduce trading costs. Amid market volatility, we remind investors to be aware of the risks associated with crypto assets and consider diversified investment strategies.
