Strategy, the company that thought it was a tech giant but apparently forgot to check the calendar, saw its stock hit a new low. 🤯 Following a broader tech sell-off on the 29th of December, MSTR stock dropped by 2.15
From its 2024 high of $543, MSTR has crashed by 71
Although some bears began unwinding short positions in November to realize their gains, MSTR’s free fall did not slow down. At press time, the stock was back within the 2024 price range of $100-$180. Because nothing says “recovery” like a rollercoaster. 🎢
Strategy stock bearish drivers 🐻
One of the factors driving bearish sentiment over the past few weeks has been the risk of MSCI index delisting MSTR and other crypto treasury firms. Because who needs stability when you can have drama? 🎭
Although the Strategy founder, Michael Saylor, has defended the firm as an operational company that should remain on the global index, prediction site Polymarket was pricing a +75
JPMorgan analysts warned that such a move would drive $8 billion in outflows from the stock. JPMorgan, the financial equivalent of a worried parent. 💸
Some even speculated that the delisting would force liquidation of its Bitcoin holdings, but market expectations for such a BTC sell-off remained low. Because apparently, even the market is tired of drama. 🙃
The MSCI decision in mid-January could offer the needed clarity for the stock’s next direction. Or it could just be another cliffhanger. 🎬
MSTR dilution 🧨
Additionally, the ongoing dilution through MSTR stock sales to fund Bitcoin [BTC] purchases may have contributed to the stock’s pressure. Because nothing says “investor trust” like selling your own stock to buy crypto. 📉
According to analyst Novacula Occami, Strategy sold $4 billion worth of MSTR despite its BTC holdings trading below its enterprise value, or mNAV, being below 1. Because logic is dead. 😭
“Since that July announcement, they’ve issued $4.9 billion of $MSTR common with $4 billion of that issued at a common mNAV below 1 (in Nov and Dec).”
“Since that July announcement, they’ve issued $4.9 billion of $MSTR common with $4 billion of that issued at a common mNAV below 1 (in Nov and Dec).” – A quote that sounds like a conspiracy theory but is actually just a financial report. 📉
The firm had earlier stated that it wouldn’t sell the common stock (MSTR) if the mNAV fell below 2.5x, then changed it to 1x. Because consistency is overrated. 🤷♀️
Overall, Strategy has spent $22.5 billion to buy Bitcoin in 2025. This was nearly half of its +$50 billion investment in BTC since 2020. Because who needs cash when you can have Bitcoin? 🤑
This has been funded by MSTR and preferred stock sales, as well as debt. In fact, the latest $108 million BTC buy was wholly funded by MSTR stock sales. Strategy now owns 672,497 BTC. Because why not? 🧠
That said, despite the massive dump in 2025, Wall Street analysts were still bullish on MSTR stock. There were 13 buy ratings in the past month, with price targets ranging from $465 to $485, implying a 170
Final Thoughts 🧠
- MSTR printed fresh yearly lows at $155 following a massive dump in H2 2025. 📉
- Still, Wall Street analysts projected a 200
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2025-12-30 13:16