The Daily: Strategy’s safe unless BTC falls to $8K, Charles Hoskinson’s down over $3B in crypto, Bithumb mistakenly sends bitcoin to users, and more

Core Insights - Bitcoin briefly dropped to $60,000 before recovering, with analysts noting traders are hesitant to engage in the market due to breaking support levels and increasing liquidations [1] Company Insights - Strategy CEO Phong Le stated that the company's balance sheet remains secure unless Bitcoin falls to $8,000 and stays there for approximately five years, which would align their Bitcoin reserves with net debt, necessitating restructuring or new financing options [3][6] - Strategy reported a net loss of $12.6 billion in Q4, primarily due to unrealized Bitcoin losses under mark-to-market accounting [6] - CFO Andrew Kang emphasized that the company continues to pursue its long-term Bitcoin treasury strategy despite short-term price volatility [6] - Executive Chairman Michael Saylor reassured investors about the company's resilience against extreme Bitcoin drawdowns and highlighted the importance of focusing on positive fundamentals, such as an improving regulatory environment [6] Industry Insights - Charles Hoskinson, founder of Cardano, reported a personal loss of over $3 billion in unrealized crypto value but indicated no intention to liquidate his holdings [4][6] - Hoskinson expressed concerns about worsening market conditions while encouraging builders and investors to remain persistent [6] - The crypto market experienced significant sell-offs, with Cardano's ADA dropping over 11% and currently sitting about 92% below its 2021 peak [6]