Shares of Strategy (MSTR) fell below $100 amid Bitcoin's decline to a two-week low, raising concerns over the company's $52 billion Bitcoin holdings.
Shares of Strategy (MSTR), a prominent Bitcoin treasury firm, fell to their lowest level in over two years on Wednesday, paralleling Bitcoin's drop to a two-week low. This decline raises concerns regarding the company's $52 billion Bitcoin holdings.
After the market opened, MSTR shares hit $97.30 and were later trading at $98.05, reflecting a daily decrease of nearly 5.5%. This decline is part of a larger trend, with Strategy's shares down about 20% in the past week and over 38% in the last month.
According to historical data, MSTR last traded below $100 on March 1, 2024, when Bitcoin was similarly priced between $61,000 and $62,000. Since then, both MSTR and Bitcoin have experienced notable volatility. MSTR shares peaked above $400 in 2025, driven by Bitcoin's rise following favorable crypto policies from former President Donald Trump.
Bitcoin reached an all-time high of over $126,000 last October but has since dropped more than 50%, recently trading at $60,935. This marks the lowest price for Bitcoin in two weeks, as investors shift away from Bitcoin ETFs in favor of AI stocks amid a more hawkish Federal Reserve stance.
As the largest corporate Bitcoin holder, Strategy's trading patterns have historically affected Bitcoin's price during bullish cycles and may have contributed to waning interest during downturns. The cryptocurrency has struggled to regain traction after falling below $70,000 in early June, coinciding with Strategy's first Bitcoin sale since 2022, which contradicted the long-held "buy and never sell" strategy advocated by co-founder Michael Saylor.
Furthermore, Strategy's preferred shares, STRC, which have facilitated significant Bitcoin purchases this year, have also seen declines. Concerns are mounting that the company may need to liquidate more Bitcoin to meet dividend obligations, with STRC recently falling to a low of $82.53 last week and currently priced at $84.35, down 3.4% for the day.
