Strategy shares dropped as low as 10% today, currently trading at $142.88 and hitting a session low of $140.25 — the bottom of the stock’s 52-week range.
The decline comes as Bitcoin, which heavily influences the company’s equity, fell over 6% over the past 24 hours to roughly $84,300, according to Bitcoin Magazine data.
Strategy has positioned itself as a bitcoin treasury firm while continuing its enterprise analytics software operations.
Its stock frequently behaves as a leveraged proxy for Bitcoin, amplifying the token’s swings. Strategy pullbacks often outpace cryptocurrency price movements, making the stock a barometer for broader risk appetite.
Thursday’s sell-off was compounded by weakness across broader markets. Major tech names slumped ahead of earnings reports, with Microsoft dropping over 11% and Apple set to report after the close.
Meta shares were trading up 11% on strong earnings.
Strategy ($MSTR) purchases more bitcoin
Earlier this week, Strategy announced another major bitcoin acquisition. The company purchased 2,932 BTC for $264 million, bringing its total holdings to 712,647 BTC. The purchases were executed at an average price of $90,061 per coin, lifting the company’s total bitcoin holdings to 712,647 BTC.
As of Monday, the company’s aggregate purchase price for its holdings stands at approximately $54.2 billion, including fees and expenses, translating to an average acquisition price of $76,037 per bitcoin. The latest purchases were funded through proceeds generated under Strategy’s at-the-market (ATM) offering program.
According to the filing, the firm sold 1,569,770 shares of its Class A common stock, MSTR, for approximately $257 million in net proceeds during the five-day period. It also sold 70,201 shares of its perpetual preferred stock, STRC, raising an additional $7 million, bringing total ATM proceeds to roughly $264 million.
As of Jan. 25, Strategy said it still has substantial capacity remaining across its ATM programs, including approximately $8.17 billion available for future issuance under its common stock offering.
The company also maintains multiple preferred stock programs, including STRK, STRF, STRC and STRD, which collectively represent tens of billions of dollars in potential future capital raises.
With more than 712,000 BTC now on its balance sheet, Strategy controls roughly 3.4% of bitcoin’s fixed 21 million supply.
At the time of writing, the price of Bitcoin is $83,559, with a 24-hour trading volume of 61 B. BTC is -7% in the last 24 hours.
It is currently -7% from its 7-day all-time high of $89,639, and 0% from its 7-day all-time low of $83,877.