Shares of Strategy Inc. (MSTR) have plunged below $100: A collapse of the Bitcoin strategy or a temporary correction?
The market is witnessing a dramatic decline in Strategy Inc. (MSTR) shares — on June 24, 2026, their value fell below the psychological threshold of $100 for the first time since March 2024. At the moment the lows were reached, the price of Bitcoin was fluctuating around $61,300, highlighting the critical dependence of the company's securities on sentiment in the cryptocurrency market.
Trading opened at $102, but during the session, with noticeably increased volumes, the shares collapsed to $99, continuing the downward trend after the previous day's close at $103.84. This decline is not just an ordinary fluctuation; it signals deep investor disappointment in the strategy of uncompromising Bitcoin accumulation that the company has been pursuing for several years.
From $450 to $99: A Descent into the Abyss
Throughout 2024 and early 2025, MSTR confidently held above $100, reaching a peak around $450 in late 2024. However, since then, the securities have lost more than 75% of their value. The current drop to $99 is not just a technical breakdown; it is a collapse of confidence, exacerbated by the overall pressure on the cryptocurrency market. Every time Bitcoin experiences pressure, Strategy Inc. shares become its hypertrophied reflection, falling many times faster and deeper.
From my professional perspective, the situation looks alarming. The company has essentially turned into a leveraged Bitcoin ETF, and the current price of $99 with Bitcoin at $61,300 is a harsh reminder that the "buy and hold" strategy without hedging has its limits. Investors are beginning to wonder: what if Bitcoin falls below $50,000? In such a scenario, MSTR could come under pressure from margin calls on its debt obligations, triggering an even deeper drawdown. This is not just a correction — it is a stress test for the entire business model of Michael Saylor.