MicroStrategy’s (MSTR) stock has fallen sharply, slipping below the $300 mark for the first time since April as Bitcoin’s price continues its retreat. The drop comes as the world’s largest cryptocurrency broke below the psychological $110,000 level, fueling renewed concerns about the health of Bitcoin treasuries.
MSTR Mirrors Bitcoin’s Slide
According to TradingView data, MSTR is down more than 8% today, trading near $294. The decline mirrors Bitcoin’s intraday fall from a high of $113,722 to a low of $108,713. Given MicroStrategy’s deep exposure to BTC, its stock tends to move in close correlation with the crypto market.
The weakness has been building for weeks. MSTR has lost more than 13% over the past month, and with today’s decline, the stock has erased all of its year-to-date gains, now down roughly 2% in 2025.
Despite the losses, Michael Saylor and Strategy have doubled down on their Bitcoin bet. Just last week, the company purchased an additional 850 BTC, bringing its total holdings to 639,835 BTC at an aggregate cost of $47.33 billion. These acquisitions have largely been funded through the sale of MSTR shares, a move that has raised questions about sustainability in the face of prolonged market weakness.
Schiff: A “Brutal” Bear Market Looms
Bitcoin critic and economist Peter Schiff has renewed his warnings, describing the current downturn as the start of a “brutal bear market” for Bitcoin treasury companies. In an X post, Schiff cast doubt on whether firms like MicroStrategy can survive the downturn, given their heavy reliance on the digital asset.
Schiff highlighted that MSTR is already down 45% from its November 2024 peak of $473, despite Bitcoin still trading well above its historical averages. He also criticized companies for copying what he described as Saylor’s “harebrained business strategy” of converting corporate balance sheets into Bitcoin.
Earlier in the day, Schiff had also argued that Ethereum is firmly in a bear market, with Bitcoin likely to follow.
Analysts Flag Key Levels
Market analysts are also sounding alarms over MSTR’s technical setup. Peter DiCarlo noted that the stock has broken down after briefly holding a support level weeks ago. He explained that the price is now pressing into the “smart money zone,” and failure to hold this area could expose MSTR to further declines.
DiCarlo’s chart suggests that MSTR could slide as low as $240 if support gives way. For now, the $290–$300 range will be closely watched as a make-or-break zone for the stock’s short-term outlook.
The road ahead for MSTR remains uncertain. While MicroStrategy continues to aggressively expand its Bitcoin holdings, its stock performance has become increasingly vulnerable to crypto market cycles. With Bitcoin under pressure and critics like Schiff warning of systemic risks, investors will be watching both BTC’s price action and MSTR’s ability to defend key levels in the weeks ahead.