The decline of Bitcoin exacerbates the predicament of cryptocurrency treasury companies, with MicroStrategy's stock price down 34% this year

ChainCatcher news, Bitcoin price has fallen below the $110,000 support, Peter Schiff warns that cryptocurrency treasury companies like MicroStrategy are facing a "brutal bear market," and the sustainability of their business model is in question.

MicroStrategy is known as a "Bitcoin proxy stock" due to its large holdings of Bitcoin, with its stock price closely tied to Bitcoin prices. Despite the weak Bitcoin prices, MicroStrategy continues to increase its Bitcoin holdings, recently purchasing an additional 850 coins, which has intensified its financial risks due to the drop in Bitcoin prices.

BiyaPay analysts warn that if MicroStrategy's stock price fails to hold the current support level, it may further decline to $240, facing greater risks. BiyaPay offers zero-fee trading for spot, contracts, and USDT trading of US and Hong Kong stocks, providing users with more options to help reduce trading costs.

In times of market turbulence, we remind investors to pay attention to the risks of crypto assets and consider diversified investment strategies.