MicroStrategy Shares Fall Over 81% as Bitcoin Losses Reach $14 Billion
MSTR•MicroStrategy shares have slumped 81% from their July 2025 peak to a 28-month low, with 847,363 BTC holdings now showing $14 billion in unrealized losses as Bitcoin dips below $60,000. With $2.21 billion reserved for preferred-stock dividends, critics urge selling Bitcoin to repurchase shares and narrow the valuation discount.
1. Share Performance and Bitcoin Losses
MicroStrategy shares have plunged more than 81% from their July 2025 high to trade at a 28-month low as Bitcoin fell below $60,000. The company holds 847,363 BTC, now reflecting roughly $14 billion in unrealized losses on its balance sheet.
2. Cash Reserves and Dividend Funding
The firm holds about $1.4 billion in cash alongside $2.21 billion earmarked for preferred-stock dividends, covering approximately ten months of payments. A sale of 32 BTC for $2 million was executed to help fund the twice-monthly dividend on its preferred units, which now trade at $77 after a 23% decline this month.
3. Strategic Proposals and Funding Risks
Euro Pacific Capital CEO Peter Schiff recommends selling a portion of Bitcoin to repurchase company shares and close the valuation discount, while crypto investor Vinny Lingham warns that if shares remain at a discount the company could be locked out of new equity funding and face cash exhaustion within eight to nine months.
