Bitcoin treasury company sells 48% of holdings to repay debt

The "Bitcoin treasury strategy" is failing its first major test. Despite the hype of holding BTC as a core reserve, Empery Digital just dumped 48% of its holdings—1,400 Bitcoin—to pay off debt and fund an AI project. Even MicroStrategy recently offloaded thousands of BTC to cover costs. This proves that when real-world expenses and debt hit, Bitcoin isn't a permanent reserve; it's just a liquid ATM. Is a Bitcoin treasury actually a viable long-term strategy, or just a marketing gimmick?
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