Wall Street Perspective: Bitcoin Agents Face Crossroads, Angel Investors Warn of Strategy

Angel investor Jason Calacanis criticized Strategy Inc. for being a “complex packaging” of Bitcoin, believing it deprived investors of direct control and that it should trade below the net asset value. Strategy holds more than 638,460 bitcoins worth $47.17 billion, relying on aggressive financing models, which are closely related to cryptocurrencies' volatility. Its stock price is currently close to $331.32, reflecting the cyclical fluctuations of Bitcoin. However, amid losses for several consecutive quarters, critics have questioned its leverage operations.