Strategy CEO: Bitcoin needs to fall to $8,000 and remain there for years before threatening its debt repayment.

PANews reported on February 6th that, according to The Block, Strategy CEO Phong Le stated during Strategy's Q4 financial results webinar that Bitcoin would need to fall to $8,000 and remain at that level for five to six years before posing a real threat to repaying its convertible debt. Strategy Executive Chairman Michael Saylor also dismissed concerns about quantum computing in Bitcoin, calling it "terrible FUD."

Strategy reported a net loss of $12.6 billion for the quarter, primarily due to Bitcoin's price falling below the company's average acquisition cost, resulting in unrealized losses on its digital asset holdings. Strategy CFO Andrew Kang stated, "These results were clearly impacted by the decline in Bitcoin's market capitalization at the end of the quarter, and we use a market capitalization-based accounting approach." However, Kang also pointed out that the company has a long-term strategy, adding, "Even in volatile markets, we will continue to execute our established strategies."

Share to:

Author: PA一线

This content is for market information only and is not investment advice.

Follow PANews official accounts, navigate bull and bear markets together
PANews APP
A whale deposited 51,750 SOL tokens into Binance, incurring a loss of $4.37 million.
PANews Newsflash