Strategy Inc. has traded below the value of its 847,363 BTC holdings for seven months, with its mNAV ratio near 1.0 since November 2025.

The Block warns Strategy isn't Bitcoin at a discount, sitting $9.4B underwater with just 10 months of cash reserves left.

CryptoQuant says the cash cushion behind Strategy's STRC has thinned from seven years of coverage to 14 months, and buying BTC at cycle tops has left the company with a $10.6…

Strategy Inc. shares hit $100.03 intraday on June 23, 2026, down 70% from 2025 peaks as Bitcoin slides and preferred share funding dries up.

Strategy (MSTR) shares fell below $100 for the first time since March 2024 as Bitcoin's drop to around $61,000 left the company sitting on more than $11 billion in unrealized…

Strategy’s bitcoin bet faces pressure as BTC slides, MSTR sinks and investors reassess the firm’s leveraged treasury model.

Shares of Strategy, the largest corporate holder of Bitcoin, fell below $100 on Wednesday for the first time since March 2024, leaving the company trading at a discount to the…

Strategy shares plunged some more today as Bitcoin fell to $59,000.

Strategy Inc. has traded below the value of its 847,363 BTC holdings for seven months, with its mNAV ratio near 1.0 since November 2025.

Strategy's STRC briefly fell to a record low of $71.40 on Friday, leaving the preferred shares about 25% below par.

Strategy’s enterprise mNAV fell below 1 as STRC hit a record low and Bitcoin traded near $60,000, pressuring its funding model.

For years, investors had valued the firm well above its bitcoin holdings, giving Strategy massive flexibility to raise capital as needed — a situation Michael Saylor and team took…

Strategy's enterprise mNAV has crossed below 1 for the first time, meaning the company's enterprise value now exceeds its bitcoin treasury. MSTR closed at $82.31, a 52-week low.

Strategy Inc.'s enterprise value has fallen below its Bitcoin holdings for the first time in years, with shares down 85% from their 2024 peak as crypto

Strategy's mNAV ratio fell below 1.0 for the first time as its enterprise value dipped below its 847,363 BTC holdings worth $50.2B, erasing a key investor