Strategy shares fell 3.5% Friday to an annual low of $81.81 as Bitcoin’s drop extended an eight-session losing streak that erased 29% of the stock’s value last week. Its market cap dropped below its Bitcoin holdings (mNAV <1) as $6.75 billion of debt and $15.5 billion of preferred obligations loom.
MicroStrategy shares plunged 3.5% on Friday, reaching an annual low of $81.81 after Bitcoin prices fell sharply. This marked the eighth consecutive session of losses, wiping out 29% of the company’s market value over the past week.
The company’s market capitalization has fallen below the value of its Bitcoin assets (mNAV <1), signaling that investors are no longer paying a premium for its digital holdings. MicroStrategy also carries $6.75 billion in debt and $15.5 billion in preferred securities obligations.
Executive chairman Michael Saylor hinted at further Bitcoin acquisitions by sharing an updated acquisition-tracking chart. Retail sentiment remains bullish, with high message volumes indicating strong interest from individual investors.
