Strategy CEO Phong Le clearly stated a number during the fourth quarter financial report presentation:
In an extreme downside scenario, if the price of Bitcoin drops by 90% to $8,000, that is our Bitcoin reserve equal to the net liabilities critical point, at which time we will be unable to repay convertible bonds with Bitcoin reserves and must consider restructuring, issuing more stock, or increasing debt.
These remarks boosted Bitcoin sentiment, reversing from 60,000 back to 70,000.
The downward trend has changed.