In brief
- Users of prediction market Myriad put a 36% chance on Bitcoin treasury firm Strategy selling some of its BTC holdings—up from 22% at the start of the week.
- The company’s multiple to net asset value (mNAV) currently sits at 1.08; if it falls below 1, Strategy may be forced to pause Bitcoin purchases.
- Analysts argued that Strategy’s “long-term accumulation thesis remains intact.”
Strategy’s Bitcoin conviction is facing its toughest test yet as the crypto market enters a prolonged downturn.
On prediction market Myriad, owned by Decrypt’s parent company, DASTAN, users now see a 36% likelihood that the Bitcoin treasury firm will sell some of its BTC holdings before year-end, up from 22% at the start of the week.
The bearish…
