Strategy’s Bitcoin Cost Gap Widens to $7.7 Billion

The widening gap is a mark-to-market story, not a solvency one, since the item notes the threshold does not itself trigger a margin call. What matters is how a company built around leveraged Bitcoin exposure communicates unrealized losses to holders who track that cost basis closely. Whether the shortfall keeps expanding with spot weakness, and how Strategy frames the gap in its disclosures, is the open question.