As bitcoin wobbles, all eyes are on Strategy . The company, which is the largest public treasury holder of bitcoin, wields considerable power to kneecap the asset's price if it liquidates some of its holdings. But the firm is unlikely to have to sell its bitcoin if it can keep its enterprise value to cryptocurrency holdings ratio above a key level, according to JPMorgan. Strategy should keep the ratio of its enterprise value — or the summation of its market capitalization, debts, preferreds and equity dividends — to bitcoin holdings above 1.0 to avoid a forced sale of the digital assets on its balance sheet, JPMorgan analysts said Wednesday in a note to clients. The company's ratio stood at 1.13 as of Wednesday, according to the note. And that in turn, could stem the recent pressure in bit
Why Michael Saylor's Strategy could hold the key for the whole bitcoin market
CNBC Investing2 hrs ago
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