The decline in Bitcoin has intensified the predicament of cryptocurrency treasury companies, with MicroStrategy's stock price dropping 34% this year

Bitcoin price has fallen below the $110,000 support level, and Peter Schiff warns that cryptocurrency treasury companies like MicroStrategy are facing a "brutal bear market," with the sustainability of their business model being questioned.

MicroStrategy is referred to as a "Bitcoin shadow stock" due to its large holdings of Bitcoin, with its stock price closely related to Bitcoin prices. Despite the weak Bitcoin price, MicroStrategy continues to increase its Bitcoin holdings, recently purchasing an additional 850 coins, which has exacerbated its financial risks due to the decline in Bitcoin prices.

BiyaPay analysts warn that if MicroStrategy's stock price fails to hold the current support level, it may further drop to $240, facing greater risks.

In times of market turbulence, we remind investors to pay attention to the risks of crypto assets and consider diversified investment strategies.