I thought we were already in Bitcoin's death spiral—dropping from 90k to 50k in just two weeks. But after listening to MicroStrategy's earnings call this morning, if they really sell BTC to repay debt, it’s still manageable. If BTC drops further to 40k, 30k, or even 20k before they sell, they won’t get a good price. By then, selling one coin for the value of three would truly be a death spiral. This morning, after Saylor reiterated to shareholders about selling BTC, I’ve already seen several project leaders start selling their own tokens.