Julio Moreno, head of research at the on-chain analytics firm CryptoQuant, has publicly recommended that Strategy — the corporate Bitcoin treasury giant formerly known as MicroStrategy — should immediately cease its ongoing Bitcoin acquisitions and adopt a more disciplined approach to its capital allocation. In a detailed analysis shared on social media, Moreno argued that the company’s deteriorating financial fundamentals, not market volatility, are the primary reason its preferred stock (STRC) has fallen below the $100 mark.