from 450 to under 300 and why? no one wants Dats anymore
MicroStrategy is in massive debt from buying bitcoin
It was not a single entity that liquidated $19 billion in Bitcoin on October 10, 2025. The event was the largest crypto liquidation in history, where a cascade of automatic liquidations occurred across multiple exchanges, forcing the closure of overleveraged positions.
It is only the first wave
Bitcoin isn’t collapsing because of market noise—it’s collapsing because its architecture is antithetical to crypto’s original ethos. No utility, no velocity, no yield. Miners are dumping because it no longer pays to mine. Ownership? Concentrated in 14 whales—some already selling. Decentralization? Nakamoto coefficient: 4. BlackRock’s exit signals institutional retreat, not adoption. It failed the store-of-value test—crashing while gold soared. Bitcoin isn’t infrastructure. It’s a speculative monument to scarcity, not a resilient system for stewardship. Crypto was meant to decentralize, democratize, and disintermediate. Bitcoin now mirrors legacy flaws: opacity, fragility, concentration. The collapse isn’t a bug—it’s a feature of misaligned architecture. Solana, Ethereum, and real infrastructure protocols are rising. Bitcoin is being reclassified. Not as gold. As obsolete
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