Strategy, the largest institutional Bitcoin holder with 840,447 BTC valued at $66.7 billion, faces limited risk from a Bitcoin crash according to a Bernstein report: the price would need to fall 96% for holdings to no longer cover $22 billion in convertible notes. The real danger for the company, which must service $1.76 billion in annual obligations, lies in a potential loss of access to capital markets. Solana processed a record 4.2 billion onchain transactions in July, ahead of a 40% rally that pushed SOL above $100 for the first time since February. Nearly $4 billion worth of real-world assets are now tokenized on Solana, out of a total of $38 billion across tracked networks.
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