Bitcoin’s Price Has Stalled and Arthur Hayes Says Strategy Pays the Price

Bitcoin stalled around $80,000 this week, and Arthur Hayes says this pause breaks Strategy's decade-old bitcoin playbook. The BitMEX co-founder argues Michael Saylor faces three uncomfortable choices, none free. Strategy Inc. (Nasdaq: MSTR) traded like a leveraged bet on BTC, but the premium problem now pressures the model. Hayes suggests the stall alone forces a strategic rethink.