{"id":25647,"date":"2025-11-09T08:00:35","date_gmt":"2025-11-09T08:00:35","guid":{"rendered":"https:\/\/99bitcoins.com\/fr\/?p=25647"},"modified":"2025-11-05T16:25:34","modified_gmt":"2025-11-05T16:25:34","slug":"strategy-willy-woo-pas-de-liquidation","status":"publish","type":"post","link":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/","title":{"rendered":"Pourquoi Strategy survivra au prochain bear market"},"content":{"rendered":"<p>Il y a des peurs tenaces d\u00e8s que le cycle se retourne: la dette, la baisse de la perf, l&rsquo;id\u00e9e d&rsquo;une <strong>vente forc\u00e9e de bitcoins<\/strong> pour boucher des trous. Le nom de Strategy revient souvent dans ces sc\u00e9narios-catastrophe. Sauf que la m\u00e9canique r\u00e9elle de son bilan, coupl\u00e9e \u00e0 la fa\u00e7on dont le march\u00e9 valorise l&rsquo;action, raconte autre chose.<\/p>\n<p>On peut secouer la courbe, oui. L&rsquo;obliger \u00e0 liquider son tr\u00e9sor? Toutefois, beaucoup moins probable. Et c&rsquo;est pr\u00e9cis\u00e9ment ce qu&rsquo;expliquent les analystes qui suivent la soci\u00e9t\u00e9 de pr\u00e8s, avec un raisonnement qui tient autant \u00e0 la structure de la dette qu&rsquo;aux \u00e9quilibres entre action, cash et BTC.<\/p>\n<h2>La th\u00e8se de Woo, en clair: la dette n&rsquo;impose pas de vente de BTC<\/h2>\n<p>Willy Woo a remis l&rsquo;\u00e9glise au milieu du village : pour que Strategy doive liquider du bitcoin lors du prochain vrai march\u00e9 baissier, il faudrait un <strong>sc\u00e9nario exceptionnellement long et dur<\/strong>. Son argumentation part d&rsquo;un point simple. La dette cl\u00e9 est compos\u00e9e de notes convertibles.<\/p>\n<p>\u00c0 l&rsquo;\u00e9ch\u00e9ance, la soci\u00e9t\u00e9 peut r\u00e9gler en cash, en actions, ou en panach\u00e9. Autrement dit, le <strong>calendrier financier ne dicte pas m\u00e9caniquement<\/strong> une vente de BTC. Il d\u00e9pend d&rsquo;un seuil de prix sur l&rsquo;action qui, s&rsquo;il est tenu, rend la conversion en equity plus naturelle que le d\u00e9bouclement de la r\u00e9serve.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">MSTR liquidation in the next bear market? I doubt it,<\/p>\n<p>Here&#39;s their debt, the date the debt is due and the price MSTR stock needs to exceed to prevent partial liquidation of their BTC treasury to pay the debt. Equivalent BTC price assumes mNAV 1.0 <a href=\"https:\/\/t.co\/AzVgecI7i2\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/AzVgecI7i2<\/a><\/p>\n<p>&mdash; Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1985857040124952788?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">November 4, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ce rappel para\u00eet trivial, mais il change la perspective. On ne parle plus d&rsquo;un <strong>mur de remboursement<\/strong> qui force un \u00ab\u00a0margin call\u00a0\u00bb sur le bilan. On parle d&rsquo;un jeu de bascule entre valeur d&rsquo;entreprise, prix de l&rsquo;action et niveau du bitcoin.<\/p>\n<p>En effet, si l&rsquo;action se traite assez haut au moment critique, la <strong>pression de vendre des BTC<\/strong> s&rsquo;\u00e9vapore. C&rsquo;est moins spectaculaire qu&rsquo;un sc\u00e9nario de capitulation, mais c&rsquo;est ce que le contrat permet.<\/p>\n<h2>Ce que disent les chiffres quand on les met dans le bon ordre<\/h2>\n<p>Strategy d\u00e9tient environ 641 205 BTC. Ce n&rsquo;est pas un coussin anecdotique.<\/p>\n<p>Dans les phases de stress, ce <strong>matelas comptable permet d&rsquo;absorber<\/strong> des \u00e0-coups sans courir apr\u00e8s des dollars de tr\u00e9sorerie au pire moment. L&rsquo;important n&rsquo;est pas de savoir si le march\u00e9 peut forcer une m\u00e8che sous 100 000$. L&rsquo;important est de savoir si la trajectoire moyenne d&rsquo;ici l&rsquo;\u00e9ch\u00e9ance laisse l&rsquo;action au-dessus de la zone qui d\u00e9clenche des conversions confortables.<\/p>\n<p>N\u00e9anmoins, si oui, la tentation de vendre des BTC reste faible. Et si l&rsquo;action s&rsquo;\u00e9carte de ce corridor? Il existe des <strong>leviers classiques c\u00f4t\u00e9 equity<\/strong> pour r\u00e9ancrer la trajectoire sans toucher \u00e0 la r\u00e9serve.<\/p>\n<h2>Le pire cas? Tr\u00e8s long, tr\u00e8s p\u00e9nible\u2026 et encore discutable<\/h2>\n<p>L&rsquo;objection raisonnable existe. D&rsquo;ailleurs, elle vient d&rsquo;analystes pro-bitcoin eux-m\u00eames: si la prochaine phase baissi\u00e8re s&rsquo;\u00e9tire, si le cycle 2028 d\u00e9\u00e7oit, une <strong>liquidation partielle pourrait redevenir<\/strong> un outil de gestion. L\u00e0 encore, il faut qualifier.<\/p>\n<p>Partielle. Conditionn\u00e9e \u00e0 une absence de reprise assez longue pour user la <strong>fen\u00eatre de conversion<\/strong>. On est loin du film o\u00f9 l&rsquo;int\u00e9gralit\u00e9 du tr\u00e9sor part en fum\u00e9e pour honorer une dette.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Would be one hell of a sustained bear market to see any liquidation for Strategy.<\/p>\n<p>Bitcoin would have to perform horribly.<\/p>\n<p>&mdash; The \u20bfitcoin Therapist (@TheBTCTherapist) <a href=\"https:\/\/twitter.com\/TheBTCTherapist\/status\/1985858280418148500?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">November 4, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ce type de sc\u00e9nario suppose une <strong>double peine<\/strong>: une action d\u00e9grad\u00e9e au mauvais moment et un bitcoin incapable de r\u00e9-accrocher des paliers pourtant situ\u00e9s sous ses sommets r\u00e9cents. Est-ce impossible? Non.<\/p>\n<p>Est-ce la trajectoire de base? Cependant, pas vraiment. D&rsquo;autant que l&rsquo;entreprise a montr\u00e9 qu&rsquo;elle savait g\u00e9rer son pas d&rsquo;achat, ralentir quand la volatilit\u00e9 explose, acc\u00e9l\u00e9rer quand la liquidit\u00e9 revient, et parler au march\u00e9 actions pour garder le <strong>couplage action\/BTC<\/strong> dans une zone exploitable.<\/p>\n<h2>Pourquoi le r\u00e9cit de la \u00ab\u00a0vente forc\u00e9e\u00a0\u00bb s&rsquo;obstine\u2026 et pourquoi il vieillit mal<\/h2>\n<p>La fiction de la liquidation attire toujours. Elle est simple \u00e0 raconter, elle coche toutes les <strong>cases \u00e9motionnelles<\/strong>, elle colle aux souvenirs des chutes pass\u00e9es. Mais elle sous-estime la r\u00e9alit\u00e9 contemporaine de Strategy.<\/p>\n<p>La bonne question n&rsquo;est pas \u00ab\u00a0vont-ils vendre \u00e0 la prochaine vague?\u00a0\u00bb. Finalement, la bonne question est \u00ab\u00a0le <strong>couple prix de l&rsquo;action\/prix du BTC<\/strong> sera-t-il suffisant pour actionner la conversion sans toucher au tr\u00e9sor?\u00a0\u00bb. Si le march\u00e9 retrouve un plancher durable au-dessus de 91 502$ d&rsquo;ici 2027, la r\u00e9ponse penche du c\u00f4t\u00e9 du oui.<\/p>\n<p>En somme, en bref, survivre \u00e0 un bear market ne veut pas dire l&rsquo;ignorer. Cela veut dire l&rsquo;absorber sans renier la th\u00e8se. Strategy a b\u00e2ti son dispositif pour \u00e7a.<\/p>\n<p>Le march\u00e9 pourra toujours tester les nerfs, secouer l&rsquo;action, d\u00e9rouler des semaines de peur. Mais <strong>forcer une liquidation de BTC<\/strong>? Il faudra plus qu&rsquo;une temp\u00eate passag\u00e8re. Il faudra le temps contre soi, longtemps.<\/p>\n<p>Et si l&rsquo;histoire crypto nous a appris une chose, c&rsquo;est qu&rsquo;elle se joue souvent entre <strong>deux horloges<\/strong>: celle de la volatilit\u00e9 qui crie, et celle des structures qui tiennent.<\/p>\n<hr>\n<p><strong>Sur le m\u00eame sujet :<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/99bitcoins.com\/fr\/actu\/michael-saylor-strategy-lancent-fonds-euro-pour-bitcoins\/\">Michael Saylor et Strategy lancent un fonds euro pour acheter plus de Bitcoins<\/a><\/li>\n<li><a href=\"https:\/\/99bitcoins.com\/fr\/actu\/logre-strategy-va-aspirer-encore-plus-de-bitcoin-avec-une-nouvelle-astuce-secrete\/\">Strategy lance Stretch : nouvelle lev\u00e9e de fonds Bitcoin choc<\/a><\/li>\n<li>Crypto : le pari Bitcoin de Strategy bouscule les actionnaires<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Il y a des peurs tenaces d\u00e8s que le cycle se retourne: la dette, la baisse de la perf, l&rsquo;id\u00e9e d&rsquo;une vente forc\u00e9e de bitcoins pour boucher des trous. Le nom de Strategy revient souvent dans ces sc\u00e9narios-catastrophe. Sauf que la m\u00e9canique r\u00e9elle de son bilan, coupl\u00e9e \u00e0 la fa\u00e7on dont le march\u00e9 valorise l&rsquo;action,..<\/p>\n","protected":false},"author":135978,"featured_media":25651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8,6],"tags":[13],"coin":[15],"class_list":["post-25647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-actu","tag-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pourquoi Strategy survivra au prochain bear market<\/title>\n<meta name=\"description\" content=\"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pourquoi Strategy survivra au prochain bear market\" \/>\n<meta property=\"og:description\" content=\"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/\" \/>\n<meta property=\"og:site_name\" content=\"99bitcoins FR\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-09T08:00:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Martin Pelletier\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Martin Pelletier\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/\"},\"author\":{\"name\":\"Martin Pelletier\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#\\\/schema\\\/person\\\/d6acaa19de409b9e22e3f740da472d70\"},\"headline\":\"Pourquoi Strategy survivra au prochain bear market\",\"datePublished\":\"2025-11-09T08:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/\"},\"wordCount\":902,\"publisher\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/11\\\/99BTC133.jpg\",\"keywords\":[\"Bitcoin\"],\"articleSection\":[\"Bitcoin\",\"Derni\u00e8res Actualit\u00e9s Crypto en Fran\u00e7ais\"],\"inLanguage\":\"fr-FR\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/\",\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/\",\"name\":\"Pourquoi Strategy survivra au prochain bear market\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/11\\\/99BTC133.jpg\",\"datePublished\":\"2025-11-09T08:00:35+00:00\",\"description\":\"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#primaryimage\",\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/11\\\/99BTC133.jpg\",\"contentUrl\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2025\\\/11\\\/99BTC133.jpg\",\"width\":1200,\"height\":800},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/strategy-willy-woo-pas-de-liquidation\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Derni\u00e8res Actualit\u00e9s Crypto en Fran\u00e7ais\",\"item\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/actu\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Pourquoi Strategy survivra au prochain bear market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#website\",\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/\",\"name\":\"99bitcoins FR\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#organization\",\"name\":\"99bitcoins\",\"alternateName\":\"99bitcoins\",\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2024\\\/10\\\/99bitcoins-logo.svg\",\"contentUrl\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/wp-content\\\/uploads\\\/sites\\\/4\\\/2024\\\/10\\\/99bitcoins-logo.svg\",\"width\":201,\"height\":43,\"caption\":\"99bitcoins\"},\"image\":{\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/#\\\/schema\\\/person\\\/d6acaa19de409b9e22e3f740da472d70\",\"name\":\"Martin Pelletier\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g\",\"caption\":\"Martin Pelletier\"},\"description\":\"Journaliste et analyste sp\u00e9cialis\u00e9 dans les crypto-monnaies et la blockchain, Martin Pelletier explore les dynamiques du Web3 et des nouvelles technologies financi\u00e8res depuis 2019. Fort d\u2019une exp\u00e9rience dans la finance traditionnelle, il s\u2019est tourn\u00e9 vers le monde des actifs num\u00e9riques pour \u00e9clairer les lecteurs sur les d\u00e9fis et les opportunit\u00e9s de cet \u00e9cosyst\u00e8me en constante \u00e9volution. \u00c0 travers des articles d'analyse, des interviews d\u2019experts et des rapports d\u00e9taill\u00e9s, Martin propose des contenus p\u00e9dagogiques et accessibles pour d\u00e9mocratiser des sujets complexes comme la finance d\u00e9centralis\u00e9e (DeFi), les NFT, et les monnaies num\u00e9riques des banques centrales (CBDC).\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/martin-pelletier-a923ba343\\\/\"],\"url\":\"https:\\\/\\\/99bitcoins.com\\\/fr\\\/author\\\/martinpelletier\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pourquoi Strategy survivra au prochain bear market","description":"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/","og_locale":"fr_FR","og_type":"article","og_title":"Pourquoi Strategy survivra au prochain bear market","og_description":"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.","og_url":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/","og_site_name":"99bitcoins FR","article_published_time":"2025-11-09T08:00:35+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg","type":"image\/jpeg"}],"author":"Martin Pelletier","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Martin Pelletier","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#article","isPartOf":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/"},"author":{"name":"Martin Pelletier","@id":"https:\/\/99bitcoins.com\/fr\/#\/schema\/person\/d6acaa19de409b9e22e3f740da472d70"},"headline":"Pourquoi Strategy survivra au prochain bear market","datePublished":"2025-11-09T08:00:35+00:00","mainEntityOfPage":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/"},"wordCount":902,"publisher":{"@id":"https:\/\/99bitcoins.com\/fr\/#organization"},"image":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#primaryimage"},"thumbnailUrl":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg","keywords":["Bitcoin"],"articleSection":["Bitcoin","Derni\u00e8res Actualit\u00e9s Crypto en Fran\u00e7ais"],"inLanguage":"fr-FR","copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/99bitcoins.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/","url":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/","name":"Pourquoi Strategy survivra au prochain bear market","isPartOf":{"@id":"https:\/\/99bitcoins.com\/fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#primaryimage"},"image":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#primaryimage"},"thumbnailUrl":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg","datePublished":"2025-11-09T08:00:35+00:00","description":"Willy Woo estime qu\u2019il faudrait un bear market exceptionnel pour forcer Strategy \u00e0 liquider du Bitcoin, un point cl\u00e9 pour les investisseurs.","breadcrumb":{"@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#primaryimage","url":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg","contentUrl":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2025\/11\/99BTC133.jpg","width":1200,"height":800},{"@type":"BreadcrumbList","@id":"https:\/\/99bitcoins.com\/fr\/actu\/strategy-willy-woo-pas-de-liquidation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/99bitcoins.com\/fr\/"},{"@type":"ListItem","position":2,"name":"Derni\u00e8res Actualit\u00e9s Crypto en Fran\u00e7ais","item":"https:\/\/99bitcoins.com\/fr\/actu\/"},{"@type":"ListItem","position":3,"name":"Pourquoi Strategy survivra au prochain bear market"}]},{"@type":"WebSite","@id":"https:\/\/99bitcoins.com\/fr\/#website","url":"https:\/\/99bitcoins.com\/fr\/","name":"99bitcoins FR","description":"","publisher":{"@id":"https:\/\/99bitcoins.com\/fr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/99bitcoins.com\/fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/99bitcoins.com\/fr\/#organization","name":"99bitcoins","alternateName":"99bitcoins","url":"https:\/\/99bitcoins.com\/fr\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/99bitcoins.com\/fr\/#\/schema\/logo\/image\/","url":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2024\/10\/99bitcoins-logo.svg","contentUrl":"https:\/\/99bitcoins.com\/fr\/wp-content\/uploads\/sites\/4\/2024\/10\/99bitcoins-logo.svg","width":201,"height":43,"caption":"99bitcoins"},"image":{"@id":"https:\/\/99bitcoins.com\/fr\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/99bitcoins.com\/fr\/#\/schema\/person\/d6acaa19de409b9e22e3f740da472d70","name":"Martin Pelletier","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/secure.gravatar.com\/avatar\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/619e41ea263b14379ed26acd8625eb311d3bfa4305a6b2b05fb2ad7937b9e869?s=96&d=mm&r=g","caption":"Martin Pelletier"},"description":"Journaliste et analyste sp\u00e9cialis\u00e9 dans les crypto-monnaies et la blockchain, Martin Pelletier explore les dynamiques du Web3 et des nouvelles technologies financi\u00e8res depuis 2019. Fort d\u2019une exp\u00e9rience dans la finance traditionnelle, il s\u2019est tourn\u00e9 vers le monde des actifs num\u00e9riques pour \u00e9clairer les lecteurs sur les d\u00e9fis et les opportunit\u00e9s de cet \u00e9cosyst\u00e8me en constante \u00e9volution. \u00c0 travers des articles d'analyse, des interviews d\u2019experts et des rapports d\u00e9taill\u00e9s, Martin propose des contenus p\u00e9dagogiques et accessibles pour d\u00e9mocratiser des sujets complexes comme la finance d\u00e9centralis\u00e9e (DeFi), les NFT, et les monnaies num\u00e9riques des banques centrales (CBDC).","sameAs":["https:\/\/www.linkedin.com\/in\/martin-pelletier-a923ba343\/"],"url":"https:\/\/99bitcoins.com\/fr\/author\/martinpelletier\/"}]}},"_links":{"self":[{"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/posts\/25647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/users\/135978"}],"replies":[{"embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/comments?post=25647"}],"version-history":[{"count":4,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/posts\/25647\/revisions"}],"predecessor-version":[{"id":31609,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/posts\/25647\/revisions\/31609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/media\/25651"}],"wp:attachment":[{"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/media?parent=25647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/categories?post=25647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/tags?post=25647"},{"taxonomy":"coin","embeddable":true,"href":"https:\/\/99bitcoins.com\/fr\/wp-json\/wp\/v2\/coin?post=25647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}