Shares of Bitcoin treasury powerhouse Strategy (MSTR) dropped to their lowest point in over two years on Wednesday, coinciding with the leading cryptocurrency's decline to a two-week low, raising alarms about the $52 billion Bitcoin accumulator.
The MSTR stock price fell to $97.30 shortly after the market opened on Wednesday, later trading at $98.05 according to Yahoo Finance, reflecting a nearly 5.5% decrease for the day.
This latest decline has intensified an ongoing downturn for Strategy's common shares, which have seen a roughly 20% decrease in just the past week and over 38% in the last month.
Historical data from Yahoo Finance indicates that MSTR last traded below $100 on March 1, 2024, when Bitcoin was valued similarly, between $61,000 and $62,000.
Since that time, both MSTR and Bitcoin have experienced significant fluctuations. Strategy shares soared above $400 in 2025, buoyed by Bitcoin’s surge following President Donald Trump's pro-crypto policies, which invigorated the optimism among crypto investors.
Bitcoin reached a new all-time high exceeding $126,000 last October, but has plummeted more than 50% since, recently trading at $60,935. This marks the lowest price for the leading digital asset in two weeks, as investors have been moving away from Bitcoin ETFs and opting for potentially higher returns from AI stocks, while the Fed has taken a more hawkish stance.
As the largest corporate holder of Bitcoin and the creator of the crypto treasury model adopted by other coins last year, Strategy's actions have historically influenced BTC during bullish phases and have arguably contributed to decreased enthusiasm during bearish trends.
Bitcoin has faced challenges in regaining momentum after dropping below $70,000 in early June, coinciding with Strategy's announcement of its first Bitcoin sale since 2022, contradicting the "buy and never sell" philosophy long championed by co-founder and executive chairman Michael Saylor.
Additionally, Strategy's STRC preferred shares, which have supported billions in Bitcoin purchases for the company this year, have also declined amid rising concerns that the firm may need to liquidate more BTC to fulfill dividend obligations.
Initially intended to trade around $100, STRC fell to a low of $82.53 last week and is experiencing another decrease on Wednesday, currently priced at $84.35, down 3.4% for the day.