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Strategy (MSTR) Stock Craters 10%, Hits Two-Year Low as Bitcoin Crashes Below $60K, CryptoQuant Warns Company to Stop Buying

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Micah Zimmerman.

Strategy (MSTR) plunged more than 10% to a two-year low near $92 as Bitcoin crashed below $60,000, wiping out billions in unrealized gains.

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Summary

Strategy Inc. (NASDAQ: MSTR) shares fell more than 10% Tuesday to $92, a two-year low, as bitcoin cratered below $60,000 and an analyst note from CryptoQuant warned the company has overextended itself and should halt bitcoin purchases before its financial situation deteriorates further. Bitcoin fell to roughly $59,000 on the day, a drop of more than $6,700 or about 5%, its worst single-day loss in months. Strategy fell alongside bitcoin, as it almost always does. The slide came on the same day that CryptoQuant published a note calling on Strategy to pause its bitcoin accumulation and restore its cash reserves before buying more.

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