Bitcoin Has Likely Bottomed as Strategy Shows Resilience Amid Plunge: Bernstein

Strategy showed its doubters that the Bitcoin-buying firm can weather the depths of crypto’s bear market and still extend its lead as the asset’s largest corporate holder, analysts at investment bank Bernstein wrote in a note on Tuesday. Although some onlookers feared that Strategy (formerly MicroStrategy) could pare its Bitcoin holdings to survive the digital asset’s latest plunge from all-time highs, the analysts wrote that the company’s balance sheet appears to be on solid footing as Bitcoin shows signs ...