Corporate bitcoin holders are selling their cryptocurrency reserves as their stock prices plummet during a $1 trillion crypto market downturn. Companies like Strategy (led by Michael Saylor) and Metaplanet have seen share values drop 50-80% from recent peaks, with $77 billion wiped from the combined market value of crypto-hoarding businesses. The business model of raising debt and equity to purchase crypto is unraveling as companies now face a vicious cycle of declining prices, forcing some to liquidate holdings for share buybacks.
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