Based on Bpaynews, Bitcoin fell nearly 6% to $85,024 as Strategy (formerly MicroStrategy) cut its full-year earnings guidance and raised a $1.44 billion cash reserve to cover preferred dividends and debt interest. The company now expects a loss of $5.5 billion to a profit of $6.3 billion, down from a prior forecast of $24 billion profit. Strategy holds 650,000 BTC valued at around $54.8 billion. The move has raised concerns about forced selling and pressured crypto-linked equities, with MSTR shares down 10.27% to $159.12.
Bitcoin Drops 6% Amid Strategy's Outlook Cut and $1.44B Cash Reserve
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