However, if the mNAV falls below 1, then Strategy faces a crisis: the reason for holding the stock vanishes, and no one will be likely to provide the company with more capital—a period of fierce selling could ensue.
That statement was extraordinary because Saylor, the founder, has repeatedly said he would never sell. Strategy currently holds just over 3% of all Bitcoin. If it was forced to sell in order to raise cash, that too would likely start an avalanche. (The company did not immediately respond when contacted for comment.)
Here’s a snapshot of the markets ahead of the opening bell in New York this morning:
