Strategy (MSTR) dropped to $99.50 on June 24, 2026, marking a 4.18% intraday decline and breaking below the $100 threshold for the first time since March 2024. The drop occurred as the world's largest Bitcoin treasury company, which holds 847,363 BTC representing approximately 4% of total Bitcoin supply, faced renewed scrutiny over its leveraged Bitcoin accumulation strategy. The stock's breach of the $100 level — a psychological and technical marker maintained for over 15 months — reflects shifting sentiment around a company whose balance sheet has become inseparable from Bitcoin's price movements, amplified by the leverage embedded in its capital structure.
Strategy Stock Drops to $99.50 on June 24, 2026
At $99.50, Strategy was down 4.18% on the session on June 24, 2026. The stock had not traded at these levels since March 2024, a span of more than 15 months during which MSTR had become a proxy trade for Bitcoin exposure in traditional brokerage accounts. The $100 level carried psychological and technical weight built up over more than two years of trading above it.
For retail investors and institutional traders who treat MSTR as a leveraged bet on Bitcoin, the breach of $100 represented a visible shift. The move occurred against a backdrop that included a broader tech-fueled rout in the Nasdaq.
Strategy Holds 847,363 Bitcoin as Largest Corporate Treasury
Strategy holds 847,363 BTC — approximately 4% of the entire Bitcoin supply that will ever exist. This position makes the company the largest corporate Bitcoin treasury in the world by a significant margin. The company's identity has become inseparable from Bitcoin itself since Michael Saylor began converting the balance sheet into a Bitcoin accumulation vehicle.
The stock carries concentration risk — its fate is tightly coupled to the price of a single, highly volatile asset. When Bitcoin rallies, MSTR tends to outperform even Bitcoin itself, thanks to the leverage embedded in its capital structure. When sentiment turns, that same leverage amplifies the downside.
Strategy's Bitcoin Cost Basis Stands at $75,651 Per BTC
Across all purchases, Strategy's total Bitcoin acquisition cost amounts to roughly $64.01 billion, translating to an average acquisition price of $75,651 per Bitcoin. With Bitcoin trading around $61,000 at the time of this report, according to CoinDesk market data, Strategy's aggregate Bitcoin position sits below its average entry cost.
The scale of the holdings raises a structural consideration: Strategy holds enough BTC that any significant selling would itself move the market. Owning 4% of the total supply is both a statement of conviction and a constraint on exit options that no other company faces at this magnitude.
Strategy Raises $335.5 Million Through Stock Sale on June 22
On June 22, Strategy sold approximately 2.7 million MSTR shares, raising $335.5 million. Of that total, around $35 million went toward purchasing 520 additional Bitcoin at an average price of $67,068 each. The remaining $300 million was added to cash reserves, bringing total liquidity to $1.4 billion.
CoinDesk reported the cash reserve increase was specifically designed to reassure investors about dividend payments on the company's preferred shares, ticker STRC. The transactions occurred two days before the stock's breach of $100.
FAQ
When did Strategy's stock price last fall below $100 before June 2026?
The last time Strategy's share price fell below $100 was in March 2024, making the June 24, 2026 drop the first occurrence in more than 15 months.
How much Bitcoin does Strategy currently hold?
Strategy currently holds 847,363 Bitcoin, which represents approximately 4% of the total Bitcoin supply that will ever be mined.
What is the average cost basis of Strategy's Bitcoin holdings?
The average cost basis across all of Strategy's Bitcoin purchases is $75,651 per Bitcoin, with total acquisition costs amounting to roughly $64.01 billion.
