Michael Saylor’s ‘Never Sell’ Era Ends? MSTR Stock Slides Despite Bullish Wall Street Calls Amid Bitcoin Slump

Retail traders on Stocktwits debated whether Michael Saylor may eventually sell Bitcoin holdings after comments during the company’s earnings call.

• Strategy shares fell in pre-market trading on Thursday even after multiple Wall Street firms raised their price targets on the stock.
• Bitcoin slipped below $81,000 after a sharp rally earlier in the week pushed the cryptocurrency above $82,000 for the first time in three months.
• Canaccord raised its price target on MSTR to $224, citing Strategy’s handling of Bitcoin volatility and its growing use of preferred shares to reduce dilution.

Shares of Michael Saylor-backed Strategy (MSTR) fell on Thursday despite getting a price target hike from Cannacord as Bitcoin (BTC) struggled to hold above $81,000.

MSTR’s stock fell over 1% in early morning trade, while Bitcoin’s price dipped 1.6% in the last 24 hours. Retail sentiment around both the apex cryptocurrency, and the Bitcoin proxy, trended in ‘bullish’ territory on Stocktwits over the past day, with chatter at ‘high’ levels. 

Bitcoin’s decline followed a sharp rally earlier in the week that pushed the asset above $82,000 for the first time in three months. 

Wall Street Raises Price Targets On Strategy