Bitcoin Magazine Why Is Michael Saylor’s Strategy (MSTR) Down Today?

Shares of Strategy (MSTR) are down about 3.6% today, weighed by a slide in Bitcoin.

The broader crypto market is under pressure. Bitcoin slipped roughly 2% over the past 24 hours, retreating from recent highs. That drop is rippling into crypto-linked equities — Strategy is one of the most exposed.

Strategy (MSTR) is currently trading at $319.84

Strategy, co-founded by Michael Saylor, reported $3.9 billion in fair value gains for the third quarter of this year. The company holds roughly 640,000 Bitcoin, with an average purchase price of $73,983 per coin.

Investors see Strategy now as nearly a pure Bitcoin play. Its multiple relative to its Bitcoin holdings has decreased compared to its BTC value. That means when Bitco

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