Strategy shares slide for six months, falling far more than bitcoin

Strategy (MSTR) shares fell for six consecutive months from July through December 2025, the first such streak since the firm adopted bitcoin as a treasury asset in August 2020, crypto analyst Chris Millas noted in a Jan. 1 post on X. Millas attached a chart showing uninterrupted monthly losses in the second half of 2025, including drops of 16.78% in August, 16.36% in October, 34.26% in November and 14.24% in December.

The report said the pattern departs from earlier drawdowns that were typically followed by sharp rebounds — for example, rallies of more than 40% after big 2022 declines — and suggests a more persistent repricing rather than a short-lived selloff. Strategy shares closed Dec. 31 at $151.95, down 2.35% that 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 was 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, according to CoinDesk Data.

The divergence emerged even as Strategy continued adding to its bitcoin holdings. Executive chairman Michael Saylor announced on X on Dec. 29 that the firm had acquired 1,229 BTC for approximately $108.8 million. As of Dec. 28, Strategy held 672,497 BTC acquired for roughly $50.44 billion, he said.

Key Topics

Crypto, United States, Stocks, Bitcoin, Markets, Microstrategy, Nasdaq