A Year After Hitting a Record High, MSTR Stock Has Shed 68%
One year ago, Strategy (MSTR), the software company that became a pioneer in buying bitcoin as corporate treasury asset, hit a record high and bitcoin, the largest cryptocurrency, was within striking distance of $100,00 for the first time.
How things change. Strategy is now 68% below its $543 peak, hit days after President Donald Trump’s election victory, and bitcoin has dropped to $83,142, the lowest since April, CoinDesk data show. On Coinbase it fell even further, slipping as low as $81,385 at one point on Friday. A key level to monitor remains Strategy’s average purchase price of about $74,430.
Bitcoin’s decline from the $126,000 record it reached in early October has pushed Strategy into an even steeper slide. The…
