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Strategy and other Bitcoin treasury firms under pressure as market momentum slows
Strategy (MSTR) and other corporate Bitcoin (BTC) treasuries remain under pressure as 2025’s volatile BTC performance – marked by sharp rallies and deep corrections – left annual returns flat to slightly negative. MSTR stock prices are down more than 60% from their year-highs, while peers that raised capital through Private Investment in Public Equity (PIPE) have also seen their stock prices erode toward their issuance levels. Michael Saylor’s Strategy, formerly known as MicroStrategy, is an American business intelligence (BI) and mobile software company that has treated BTC as its primary treasury reserve ... (full story)