MSTR Shares Drop 3.9% as Bitcoin Slides to $66,600; Saylor Defends 714,644 BTC Base
MSTR shares fell 3.89% after Bitcoin slid to an intraday low of $66,600 and roughly $200 million in crypto liquidations weighed on sentiment. Executive Chair Michael Saylor said the company’s 714,644 BTC holdings at a $76,056 average cost create a “fortress” balance sheet despite current underwater positions.
1. Crypto Slump Pressures MSTR Stock
Bitcoin fell to an intraday low of $66,600 with 24-hour trading volumes rising, triggering roughly $200 million in liquidations. Shares of Strategy Inc. dropped 3.89% as investors reacted to increased selling pressure and broader cryptocurrency declines.
2. Saylor Highlights “Fortress” Balance Sheet
Executive Chair Michael Saylor emphasized that MSTR’s 714,644 BTC holdings at a $76,056 average cost provide a robust balance sheet that can weather further price declines. He reiterated confidence that institutional support and digital credit network growth underpin long-term Bitcoin demand.
3. Convertible Debt and Valuation Position
MSTR’s market capitalization stands at $42.9 billion while its Bitcoin inventory is valued near $48 billion, leaving an implied premium over equity value. Management plans to convert outstanding convertible debt into equity over the next three to six years, reinforcing capital structure flexibility.