CryptoQuant says Michael Saylor's Strategy should halt its bitcoin buying

CryptoQuant warns the cash cushion behind Michael Saylor’s Strategy (STRC) has shrunk from seven years of coverage to about 14 months after aggressive BTC purchases, leaving the company with an estimated $10.6 billion unrealized loss. The firm says Strategy should halt further bitcoin buying given depleted reserves and that much of the accumulation occurred at cycle tops. Implication: continued aggressive accumulation risks forced deleveraging or asset sales that could exert downward pressure on BTC price and undermine a major institutional buyer’s credibility.