MSTR - AS BITCOIN WOBBLES, ALL EYES ON STRATEGY MicroStrategy, the largest public holder of Bitcoin, could influence the cryptocurrency’s price if it sells some of its holdings. JPMorgan says the company can avoid forced sales by keeping its enterprise value-to-Bitcoin holdings ratio above 1.0, which currently stands at 1.13. If the ratio remains above this level, Bitcoin markets may stabilize, easing recent pressure. Strategy shares have dropped about 42% in three months amid the crypto downturn, and the firm has slowed Bitcoin purchases, adding 9,062 tokens last month compared to 134,480 a year ago. Additionally, potential exclusion from MSCI indices could trigger $8.8 billion in outflows. However, MicroStrategy has a $1.4 billion reserve for dividends and interest, helping it avoid selling Bitcoin even if prices fall further.(*Walter Bloomberg)