- Strategy shares (MSTR) closed down more than 9% on Tuesday, one day after selling Bitcoin for the first time since 2022.
- The firm’s shares are now down nearly 15% in the last five trading days and more than 23% on the month, closing at $136.08 on Tuesday.
- The sale involved 32 BTC, valued at about $2.5 million, which is merely a fraction of its more than $56 billion BTC portfolio.
- Bitcoin's price has also dropped around 5.8% in the last 24 hours, currently trading at $67,288 and more than 46% off its all-time high of $126,080.
- Despite these fluctuations, analysts at TD Cowen remain bullish, noting nearly a 200% gain from its current mark for shares of MSTR.
Shares in Strategy (MSTR) have experienced a dramatic decline, closing down over 9% on Tuesday and nearly 15% in the last five trading days. This downturn follows the company's first Bitcoin sale since 2022, shedding 32 BTC, valued at approximately $2.5 million.23
The market reaction to this decision has not been favorable. Strategy's shares are now down over 23% for the month, and many shareholders have expressed discontent. The recent drops in Bitcoin—down about 5.8% in 24 hours and currently trading at $67,288, well below its all-time high of $126,080—have further fueled concerns.4
Despite this setback, analysts at TD Cowen remain optimistic about MSTR shares, citing a nearly 200% gain from its current mark. However, the company’s sale of Bitcoin, which constitutes just a small fraction of its $56 billion BTC portfolio, has raised questions regarding its strategy amidst the volatile cryptocurrency market.5
“Shares in Strategy (MSTR) closed down more than 9% as the firm sold Bitcoin for the first time since 2022. This decision has prompted negative reactions from shareholders, coinciding with a Bitcoin price drop of 5.8% in 24 hours.”
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