Bitcoin Plunge Forces Corporate Crypto Treasuries to Sell Holdings as Stocks Fall, Casting Doubt on Saylor-Backed Model

As COINOTAG News reports, citing the Financial Times, crypto prices have cooled and corporate crypto treasuries are selling portions of their token holdings to bolster sagging stock valuations, signaling a rapid unwind of the digital asset treasury playbook. MicroStrategy, led by Michael Saylor, remains the largest corporate Bitcoin holder, yet its equity has fallen roughly 50% over the last three months, pressuring peers and prompting risk teams to recalibrate liquidity and hedging frameworks amid a sector-wide price pullback.

Kaiko analysts caution that these firms face a wave of sell-offs, with price pressure likely to intensify as assets are liquidated to defend equity valuations. Adam Morgan McCarthy, Senior Research Analyst at Kaiko, warns of a vicious cycle: price declines trigger disposals, tighten liquidity, raise funding costs, and widen gaps between token values and corporate books—conditioning risk controls and investor scrutiny in the crypto space.