Strategy Inc. stock fell sharply amid Bitcoin’s decline, straining its leveraged BTC holdings and high-yield preferred stock obligations.
Strategy Inc. (NASDAQ: MSTR) shares dropped 45.4% in June, outpacing Bitcoin’s 18.4% decline, as the company’s leveraged BTC bet faced pressure. The firm holds $51.6 billion in Bitcoin against $17 billion in debt and perpetual preferred stock, which carries a high double-digit yield paid semi-monthly.
Bitcoin’s 28.5% year-to-date decline, including a steep June drop, forced Strategy to address dividend payments and debt servicing. The company’s stock underperformed BTC as investors weighed its financial maneuvering amid the crypto downturn.
Gold, often compared to Bitcoin as an inflation hedge, also fell 4% this year, though less sharply. Both assets had surged prior to 2026, driven by macroeconomic and geopolitical factors.