HomeCrypto NewsGrachev warns MicroStrategy, BitMine could trigger BTC crash

Grachev warns MicroStrategy, BitMine could trigger BTC crash

Posted: 7 June 2026, 19:33 CET 2 min read

Andrei Grachev of DWF Labs warned on X that large unrealized losses at MicroStrategy and BitMine could force sales and push Bitcoin toward $10,000–$20,000.

Andrei Grachev, co‑founder of DWF Labs, posted on X on June 6 that concentrated losses at MicroStrategy and BitMine could trigger a marketwide liquidation that sends Bitcoin to $10,000–$20,000. He framed the post as a thought exercise and said he hoped the scenario would not occur.

MicroStrategy holds more than 843,000 BTC and is reporting roughly $13 billion in unrealized losses on that position. The company’s shares and its variable‑rate perpetual preferred stock have weakened recently. MicroStrategy also sold 32 BTC, its first sale since 2022.

BitMine’s treasury is concentrated in Ethereum. The firm holds about 5.28 million ETH and carries over $10 billion in paper losses after accumulating its position at an average cost near $3,500 per token.

A corporate treasury crash occurs when large holders must sell assets to meet margin calls, debt obligations or other funding needs. Forced selling can lower prices and trigger further liquidations among leveraged traders and funds.

Recent market data show increased stress. Bitcoin dropped below $60,000 while spot ETF outflows reached about $1.7 billion in a single week and more than $1 billion in liquidations occurred across the market within 24 hours. Centralized exchange spot volume fell to about $679 billion, its lowest level since October 2023; spot trading is down roughly 46% year‑on‑year and about 67% below its October 2025 peak.

Grachev warned that forced or voluntary sales by large corporate treasuries could add downward pressure on BTC and ETH and lead to broader liquidations across the market.

He wrote on X: “BitMine and Strategy have all the chances to create the largest market crash in the history of crypto.” He added, “Fingers crossed that it won’t happen, but if it did, what’s your strategy for BTC crash to 10‑20k$?”

Grachev did not predict that the crash is imminent. He urged investors and traders to review their risk‑management plans in case large holders need to sell assets to meet financial obligations.