Strategy stock hits lowest level since February after Bitcoin’s decline triggers $1.1 billion in crypto liquidations.
MicroStrategy’s stock fell to $85.33 on June 26, its lowest since February 2024, as Bitcoin’s drop to near $58,000 weighed on crypto-linked equities. The company’s STRC perpetual preferred stock also hit a record low of $73.62, down 26% from its $100 par value.
The broader crypto market saw over $1.1 billion in liquidations in 24 hours, with the Crypto Fear & Greed Index at 16, signaling extreme fear. Bitcoin’s decline, last seen in September 2024, has pressured leveraged crypto exposures.
MicroStrategy, which uses preferred stock to fund Bitcoin purchases, has seen its shares fall 47% over the past month. The sell-off reflects broader risk aversion in global markets.