Why Isn’t Bitcoin at $200,000 Yet?
MicroStrategy, Debt Spirals, and the Hidden Mechanics of Modern Finance There is a growing theory circulating in financial and crypto communities: Bitcoin is not worth several hundred thousand dollars today because its price is being deliberately suppressed. This idea has gained traction on social media platforms like X (formerly Twitter), where frustration is often directed at major financial institutions such as JP Morgan . The claim centers on the idea that large banks are allegedly shorting MicroStrategy —a company whose primary mission has effectively become raising capital to buy Bitcoin. MicroStrategy and the Bitcoin Discount Paradox At one point recently, MicroStrategy’s stock price fell to a level where the company’s total market capitalization was nearly $10 billion lower than the value of the Bitcoin it held . This created a strange situation: investors could gain Bitcoin exposure at a discount simply by buying MicroStrategy shares. What initially looked lik...