Bitcoin slump, MSCI delisting odds and MicroStrategy’s debt reserves reshape market risk debate

As 2025 draws to a close, Bitcoin has dropped from its October peak of $126,000 to about $88,000 while Michael Saylor’s Strategy Inc. pauses new purchases. The firm holds 671,268 BTC and faces fears over a potential MSCI delisting and billions in forced passive outflows, yet its long-term debt profile and more than $2.1 billion in cash suggest it may withstand pressure and that current panic could reflect broader sector stress.