MSTR Stock Slides As Bitcoin Falls and and Peter Schiff warns of continued downturn

Strategy (MSTR) stock tumbled as Bitcoin fell under $110,000, and Peter Schiff warns that the continued downturn in Bitcoin could heavily affect firms holding the asset.

MSTR Stock Falls Below $300 As Bitcoin Declines

MSTR stock has dropped below $300 for the first time since April, down about 8% today to around $294, according to data from TradingView.

This followed Bitcoin’s drop from $113,722 to a low of $108,713, with MSTR shares sliding in tandem because of the company’s large Bitcoin holdings.

Although the stock has been falling for some time, dropping over 13% in the past month, today’s decline means that MSTR has lost all its year-to-date gains and is now down by 2%.

Despite the drop in MSTR stock, Michael Saylor and Strategy have continued buying Bitcoin, adding 850 BTC last week to reach 639,835 BTC worth $47.33 billion, funded partly by selling some of the company’s shares in recent weeks.

Schiff Warns Bitcoin Treasuries as MSTR Risk $240 Drop

Peter Schiff, a Bitcoin critic, warned in an X post that the Bitcoin bear market will be very tough for companies holding BTC, and he doubts any of them, including Strategy, will survive.

The well-known economist also pointed out that while many firms copied Michael Saylor’s strategy, few noticed that MSTR stock has dropped 45% from its November 2024 high of $473.

Peter Dicarlo, a crypto analyst, noted that MSTR has dropped after briefly holding support, and it is currently stuck at a key price level. He further explained that if this price level fails, the stock could be in serious trouble, possibly dropping to $240.