Strategy posts first six-month losing streak since bitcoin pivot

Strategy (MSTR) shares fell for six consecutive months — the first such streak since the company adopted bitcoin as a treasury asset in August 2020, crypto analyst Chris Millas noted in a Jan. 1 post on X.

Monthly returns show uninterrupted losses from July through December 2025, including drops of 16.78% in August, 16.36% in October, 34.26% in November and 14.24% in December.

While the stock has seen steeper single-month declines in prior years, those drawdowns were typically followed by sharp rebounds (rallies of more than 40% during the 2022 bear market). The lack of a comparable recovery in the second half of 2025 suggests a more persistent repricing rather than a short-lived selloff.

Strategy shares closed Dec. 31 at $151.95, down 2.35% on the day. The stock was down 11.36% over the past month, 59.30% over six months and 49.35% over the past year.

By contrast, bitcoin held up better. CoinDesk Data showed bitcoin trading at $87,879 as of noon ET on Jan. 1, up 0.38% over 24 hours and down 5.06% over the past month, 27.36% over three months and 9.65% over the past year.

The equity weakness came even as Strategy continued adding to its bitcoin holdings. Executive chairman Michael Saylor said the firm bought 1,229 BTC for about $108.8 million on Dec. 29 and held 672,497 BTC acquired for roughly $50.44 billion as of Dec. 28.

Strategy’s stock also lagged broader markets: the Nasdaq 100 rose 20.17% in 2025.

Key Topics

Crypto, United States, Stocks, Bitcoin, Markets, Nasdaq, Michael Saylor