Bitcoin Rejection Near $94K Raises Questions for Strategy’s 671,268 BTC Stock Exposure

Bitcoin’s rejection near the $94,000 zone and a potential retest of the $80,000 area are heightening concerns over Strategy’s highly leveraged BTC balance sheet. The company now holds 671,268 BTC worth just over $50 billion, with its mNAV and convertible note structure creating added risk if the BTC price stays low into upcoming maturities. Investors are watching how falling mNAV and rising dilution pressure may force tough choices between new debt issuance and possible Bitcoin sales.