MicroStrategy and BitMine Could Trigger the Largest Bitcoin Crash Ever: DWF Labs Co-founder Warns

Andrei Grachev, co-founder of DWF Labs, warns that large corporate holders such as MicroStrategy and BitMine could trigger the largest crypto-market crash in history. He asks investors to imagine Bitcoin moving to $10,000-$20,000 as a scenario to illustrate heightened risk. Grachev frames this as a liquidity-warning scenario, noting that major holders facing forced sales could drive prices lower in a self-reinforcing cycle. The warning comes as MicroStrategy reports roughly $13 billion in unrealized Bitcoin losses, while BitMine also carries substantial positions. With concentrations of crypto assets among a few players, the potential for amplified declines grows, according to Grachev.