Strategy Stock Sinks as Saylor’s Ship Carries More Weight Than the Ocean Can Hold
Strategy stock (MSTR) took a noticeable hit yesterday sliding 4.5% to close at $133.53. The decline comes as the market struggles to price the company’s massive Bitcoin (BTC-USD) bet. Think of Strategy like a giant cargo ship: even though it is carrying a record-breaking haul of gold, the ship itself is currently being sold for less than the value of the gold inside. In the financial world, this is known as trading at a “discount to net asset value,” and it suggests that investors are currently more worried about the ship’s debt than the treasure it holds.
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Saylor Signals a New Buying Spree
Despite the stock’s slump, Michael Saylor is doubling down. Over the weekend, he signaled that the company is preparing for another Bitcoin purchase, even as the cryptocurrency hovers around the $66,000 mark. Strategy’s total holdings currently sit at a staggering 720,737 BTC, which is worth more than $48 billion.
However, because the company’s average purchase price for its Bitcoin is roughly $75,985, its current holdings are technically underwater compared to the market price. This gap between what they paid and what the Bitcoin is currently worth has contributed to the stock’s recent weakness.
The Crypto Treasury Market Faces a Year of Consolidation
The broader crypto treasury market is entering a difficult phase. With many companies now trading at a discount, some experts believe 2026 will be a year where stronger firms buy up their struggling competitors. The goal would be to combine forces to create more cash flow and better stability.
Saylor, however, has made it clear that he isn’t interested in buying up other distressed companies. He argued that these types of mergers take too long, sometimes up to a year, and the market moves too fast for those deals to stay attractive.
Is Strategy a Good Stock to Buy Now?
According to TipRanks, Strategy (formerly known as MicroStrategy) stock has a consensus Strong Buy rating among 10 Wall Street analysts. This rating is based on a unanimous 10 Buy ratings assigned in the past three months. The average 12-month MSTR price target of $310 implies 132.2% upside from current levels.
See more MSTR analyst ratings
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