Bitcoin Below $75K Pushes Strategy's 849,327 BTC Treasury Under Water by ~$500M
MSTR sits 58% above its 52-week low of $81.81.
Summary
Bitcoin slipped under $75,000, dragging Strategy's 849,327 BTC stack below its $75,451 average cost — the first time in a while the treasury is worth less than the company paid. At roughly $74,863 spot, the holdings are worth about $63.58 billion against $64.08 billion of acquisition cost, an unrealized loss of roughly $500 million, or just $588 per coin. The gap is thin, but it reverses the August picture when BTC above $77,000 put the position back in the green. The coins are unencumbered, so there is no margin-call trigger, and Strategy holds about $4.79 billion in USD reserves to cover preferred dividends. The real risk is accounting: the company has already sold small amounts of BTC in 2026 to fund preferred dividends, and further sales below cost would lock in losses. Q3 already showed BTC Yield at negative 11.9% as stock sales funded dividends and buybacks, so a quarter closing below cost basis could produce another large reported loss like the $12.6 billion hit in Q4 2025.
At the time of this announcement, MSTR was trading at $129.30 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $54.5B. The 52-week trading range was $81.81 to $252.34. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Crypto Briefing.