Currently, with BTC price fluctuations, many people are beginning to worry whether those publicly listed companies holding large amounts of coins can withstand the pressure. Indeed, there are voices warning that if regulatory uncertainties intensify and volatility continues to increase, some companies may face liquidity crises or even bankruptcy risks. But honestly, these concerns are somewhat exaggerated.

Let's first look at those large-scale coin-buying companies, such as a leading tech firm. Their strategy for holding coins has never been short-term trading. These companies' initial purpose for buying BTC is long-term allocation; short-term price swings of a few percentage points won't shake their resolve. More importantly, their cost basis for building positions is far below the current price, so they are still profitable on paper and have no reason to sell at a low price.

From a financial logic perspective, the core approach for companies holding coins is actually very simple: use low-cost financing to buy BTC. As long as the interest on financing doesn't outpace BTC's appreciation rate, they are profitable. The current interest rate environment is basically favorable for them, and continuing this strategy poses no problem.

For the entire market, corporate coin holdings have long become an important demand support. Their purchases directly reduce the supply in circulation, which itself is a force supporting prices. Even if some company is forced to sell due to liquidity constraints, other buyers will step in, and it won't trigger any systemic crisis.

To see through these risk warnings, the key is to understand the company's financing structure and cost basis, rather than being led astray by short-term panic-driven public opinion. The fact is, the financial reports of leading companies remain solid, and their strategies will continue to move forward.