Bitwise's Chief Investment Officer Matt Hougan just shot down the chatter about Strategy being forced into a Bitcoin fire sale. His take? The company's sitting on solid cash reserves, and here's the kicker—no debt obligations are hitting until 2027. That's a comfortable runway by any measure. While some analysts have been sweating over potential liquidation scenarios, Hougan's pointing to the balance sheet fundamentals that tell a different story. The 2027 debt maturity timeline basically gives Strategy years of breathing room, assuming market conditions don't go completely sideways. Worth noting when evaluating institutional BTC exposure risks.