The cryptocurrency market is experiencing turbulence, with Bitcoin’s price falling below $97,000 after reaching a peak of over $108,000 in December 2024. This drop has caused investors significant concern as the value of Strategy, the biggest corporate Bitcoin holder, has plummeted by over 55% since its recent highs. 478,740 BTC, worth approximately $43.7 billion at current prices, is held by Strategy. The company, led by Michael Saylor, bought this Bitcoin stash for an average price of $62,473 per coin, resulting in a significant unrealized gain of $15.746 billion. 8.2 billion dollars in debt secured through convertible notes due in 2028 has been used to acquire this Bitcoin stash which puts Strategy at a leverage ratio of 19%. The recent market decline and the price fluctuation of Bitcoin has raised questions about Strategy’s financial stability, especially given its reliance on market confidence. Despite the current situation, analysts believe that Strategy’s long-term Bitcoin bet could pay off if Bitcoin prices rise back to levels above $100,000. However, a 50% drop in Bitcoin price to $45,625 would put their holdings underwater compared to debt and purchase costs. The question now is: can Strategy withstand this market storm?