According to Woofun AI, the current market value of 849,327 bitcoins held by MicroStrategy (MSTR.US) (MicroStrategy) is about 63.58 billion US dollars, which has fallen below its total acquisition cost of 640.8 billion US dollars and is in a state of book loss.
This deficit is due to the Bitcoin trading price's failure to maintain the $75,451 average purchase price defense set by MicroStrategy. From a structural point of view, when the average market price falls below this critical cost level, asset valuations will still converge below the cost line, even with huge holdings.
According to data compiled by Woofun AI, the current market capitalization and cost inversion is not due to short-term fluctuations, but is a direct result of prices continuing to run below a high position opening range, causing unrealized losses of more than 500 million US dollars to be locked in the balance sheet.
Notably, as one of the largest institutional Bitcoin holders in the market, MicroStrategy's cost benchmark has become an important weather vane for observing market sentiment. When this amount of chips is in a state of loss, it means that a large amount of early and mid-term entry capital is under pressure to break the package. On a psychological level, this heightens the market's vigilance against upward pressure, rather than a simple digital game.
This is another test where the value of the position is lower than the cost after many high-ranking increases. If the Bitcoin price fails to effectively break through the $75,451 average cost line, the agency's balance sheet will continue to be under pressure, which in turn may affect the pace of its subsequent strategy to increase its holdings through debt instruments. The market needs to pay close attention to offensive and defensive changes in this critical price level.