Strategy's Bitcoin Holdings Show 40% Underwater as Recent Purchases Average $102,171

Approximately 40% of Strategy's 649,870 BTC holdings are underwater following recent acquisitions at an average price of $102,171, data show. The company purchased 8,178 BTC at levels roughly 10% above current trading prices. Analysts have raised concerns about the leveraged treasury model's implications for Bitcoin's market structure and its alignment with decentralization principles.