MSTR Stock Ends Week Lowest Since November 2022 As Bitcoin Plummets

Bitcoin prices dropped below the $60,000 level, dropping nearly 18% this week.

• Strategy Inc. broke its three-year streak of exclusive accumulation by selling $2.5 million in Bitcoin to fund structural dividend payments. 
• Peter Schiff warns of a potential “Crypto Black Monday.”
• Traders are increasingly betting against MSTR. 

Shares of Strategy (MSTR) fell 7% on Friday and slipped 1% after-hours, marking its worst week since November 2022, tracking the fall in Bitcoin prices.

Bitcoin prices fell on Friday and dropped briefly below the $60,000 level, leaving its losses this week at almost 18%. The Grayscale Bitcoin Mini Trust ETF (BTC) dropped 18% this week, its worst week on record. 

The sell-off comes on the back of an announcement earlier this week that Strategy had sold 32 Bitcoins in its first-ever sale since 2022, triggering a wider sell-off in the cryptocurrency. Strategy has sold Bitcoin only once before in its history, in December 2022. The transaction marked only the second time Strategy has sold any of its digital tokens since establishing its reserve strategy in August 2020. 

With a total acquisition of 843,738 Bitcoins across 110 separate transactions valued at nearly $64 billion, as per FT calculations, Strategy remains the top corporate Bitcoin holder. The publicly traded firm has long advocated for the "hodl" philosophy—a term in crypto culture signifying the commitment to maintain holdings indefinitely—specifically targeting retail investors. However, this long-standing approach was recently interrupted by a divestment last week.