When the whole world sees nothing but upside in one place, beware.
The cryptocurrency market has gone from greed to fear
MSTR has been the leading public company investor in Bitcoin, a position furthered through the issuance of Bitcoin-backed term debt.
Importantly, bitcoin has broken the lows of May 2021.
The liquidity that pushed up all risky assets is now the leading factor in taking them down.
I am very concerned about crypto and its impact on broader markets.
These recently downgraded names are displaying both quantitative and technical deterioration.
This might not end well.
Everyone watches the Cash App segment which is super reliant on Bitcoin for performance. When that's good, it's great. When Bitcoin is not so hot?
Here's what you should be prepared for.