Described as a 'catastrophe' down 97% from its peak. A specific warning is issued about upcoming lockup period expirations which could create significant selling pressure.

Mentioned as an example of smaller Bitcoin-holding companies that are performing well, in some cases better than MicroStrategy, offering a different risk/reward profile.

Recently bought $680 million worth of Bitcoin at an average price of $118,200, providing a data point for a large institutional purchase. The position is currently underwater.