MicroStrategy(US:MSTR) Sou Hu Cai Jing·2025-11-16 11:16Market Overview - The cryptocurrency market experienced a significant downturn, with Bitcoin dropping below $95,000, currently trading at $95,812, reflecting a decline of 0.7%. Ethereum and other cryptocurrencies like Cardano and XRP also saw declines exceeding 1% and 2% respectively [1] - In the past 24 hours, nearly 100,000 traders were liquidated, with a total liquidation amount reaching $160 million [1][2] - Since the flash crash on October 10, the total market capitalization of all cryptocurrencies has lost over $1 trillion [2] Impact on Trump's Wealth - The Trump family's wealth from cryptocurrency investments has significantly decreased due to the market volatility [2] - Trump's cryptocurrency portfolio includes investments in Trump Media & Technology Group, blockchain company World Liberty Financial, and Bitcoin mining company American Bitcoin, all of which have seen a decline of approximately 30% since Bitcoin's peak in October [3] Harvard Endowment Fund - Harvard University's endowment fund reported holding 6.8 million shares of BlackRock's iShares Bitcoin Trust (IBIT), which has increased by 257% compared to the previous quarter. This fund is the largest Bitcoin spot ETF globally, with net assets nearing $75 billion [3][4] - The Bitcoin trust now constitutes 20.97% of Harvard's total U.S. stock holdings, surpassing major companies like Microsoft, Amazon, Alphabet, Nvidia, and even the SPDR Gold Shares ETF [4] Selling Pressure in the Market - Long-term holders are increasingly selling off their cryptocurrency holdings, contributing to the market's decline [5] - In the past 30 days, long-term Bitcoin holders have sold approximately 815,000 Bitcoins, marking the highest selling activity since early 2024. Notably, "whales" holding over 1,000 Bitcoins are selling at a rate exceeding 1,000 Bitcoins per hour [6] Speculation on MicroStrategy - Speculation is rising regarding MicroStrategy potentially selling Bitcoin, as on-chain data indicates fund movements. MicroStrategy's stock has dropped nearly 32% in the past month, with a market cap of $59 billion, while its Bitcoin holdings are valued at $62.3 billion [7] - Despite this, MicroStrategy's co-founder Michael Saylor maintains that the company's strategy is to continue buying Bitcoin, pausing new purchase announcements only at the end of each fiscal quarter [7] Federal Reserve's Influence - Recent comments from Federal Reserve officials regarding a cautious stance on interest rate cuts have negatively impacted risk appetite in the market. Some decision-makers have warned about the potential stagnation of inflation progress, casting doubt on the likelihood of a rate cut in December [7] - Predictions indicate a 70% probability of Bitcoin dropping below $90,000 by the end of the year, with a 26% chance of falling below $80,000 [7]