MicroStrategy Faces Institutional Exodus as Bitcoin Strategy Falters

The investment thesis behind MicroStrategy, long celebrated as a corporate Bitcoin pioneer, is facing its most severe test. Monday’s trading session witnessed substantial selling pressure on the software company’s stock, which plummeted nearly 4% at its lowest point, extending a brutal multi-week downtrend. This decline coincides with a sharp correction in Bitcoin, which has retreated from its record highs to the $83,000-$86,000 range. For a firm that has staked its entire corporate strategy on the cryptocurrency, the timing could hardly be worse, raising existential questions about its foundational business model.

At the heart of the current crisis is the dramatic implosion of MicroStrategy’s NAV premium. This metric represents the Read more...