Chinese mining CEO says Strategy can survive a $30,000 bitcoin without selling

Jiang Zhuoer, CEO of Chinese Bitcoin mining firm BTC.TOP, stated on March 18, 2024, that the company's mining operations can withstand a Bitcoin price drop to $30,000 without needing to sell any of its holdings. Zhuoer dismissed the recent market sell-off as overblown speculation, asserting that BTC.TOP's minimal debt levels and the structure of its preferred shares provide sufficient flexibility to continue acquiring Bitcoin. He elaborated that the company's strategy is designed for resilience, allowing it to maintain its purchasing power even under significant market downturns. This financial positioning is intended to ensure operational continuity and strategic accumulation of Bitcoin reserves, differentiating BTC.TOP from competitors who might be forced to liquidate assets during price volatility.