MicroStrategy Slumps to $81.81, Market Cap Dips Below Bitcoin Asset Value
MSTR•MSTR shares fell to $81.81, down over 3.5%, as an eight-session selloff erased 29% of value and pushed market cap below its Bitcoin holdings. The company carries $6.75B debt, $15.5B in preferred securities and under one year of dividend coverage while Michael Saylor hints at more Bitcoin buys.
1. Bitcoin-driven selloff
MSTR shares declined to an annual low of $81.81 after a sharp Bitcoin price drop extended losses into an eighth consecutive session, wiping out 29% of the stock’s value and sending its market capitalization below the reported value of its Bitcoin holdings (mNAV below 1).
2. Financial obligations and strategic outlook
The company balances $6.75 billion in debt and $15.5 billion in preferred securities with cash reserves covering less than a year of dividend payments, even as co-founder Michael Saylor teases further Bitcoin acquisitions amid calls to liquidate assets to shore up the balance sheet.
