Strategy Shares Crash Below $100 as Bitcoin Sinks Towards $60K

Shares in Bitcoin treasury giant Strategy (MSTR) fell to their lowest price in more than two years Wednesday as the price of the leading cryptocurrency sank to a two-week low—and as concerns over the $52 billion Bitcoin accumulator grow.

MSTR shares fell as low as $97.30 on Wednesday, about 30 minutes after the opening bell, and were recently trading at $98.05 per data from Yahoo Finance—a nearly 5.5% drop so far on the day.

The latest dip has only accelerated a recent tailspin for Strategy’s common shares, which are down about 20% in the last week and more than 38% over the past month.

According to Yahoo Finance historical data, the last time MSTR traded under $100 was on March 1, 2024, when Bitcoin was trading for roughly the same price it is now—in the $61,000 to $62,000 range.

Both MSTR and Bitcoin have spiked and then fallen substantially since then. Strategy shares peaked above $400 in 2025 as Bitcoin was flying high in the wake of President Donald Trump’s more crypto-friendly policies, and the optimism that sparked among crypto traders.

Bitcoin itself set a new all-time high above $126,000 last October, but has since fallen more than 50% to a recent price of $60,935. That’s the lowest price seen in two weeks for the top digital asset, which has been hammered as investors flee Bitcoin ETFs and embrace larger potential gains trading AI stocks, and the Fed adopts a more hawkish tone.

As the top corporate Bitcoin holder and the inventor of the crypto treasury model that spread to other coins last year, Strategy’s own moves have helped boost BTC during bullish times—and have arguably also dampened enthusiasm amid bearish swings.

Bitcoin has struggled to recover after falling below the $70,000 mark around the start of June, right around the time that Strategy disclosed its first BTC sale since 2022, shattering the “buy and never sell” ethos that company co-founder and executive chairman Michael Saylor has espoused for years.

Strategy’s STRC preferred shares, which have fueled billions of dollars’ worth of Bitcoin buys for the firm so far this year, have also been battered amid growing fears that the firm will have to sell more BTC to meet dividend payment obligations.

While designed to trade near $100, STRC fell to a low of $82.53 last week, and is falling again Wednesday. As of this writing, STRC is trading hands at $84.35, down 3.4% on the day.