Michael Saylor's MicroStrategy stock crashes amid 'brutal bear market'

The Strategy (Nasdaq: MSTR) stock crashed 7.66% on Sep. 25 as the Bitcoin treasury firm felt the heat of the rout in the broader crypto market.

Michael Saylor-led Strategy, formerly MicroStrategy, holds 639,835 Bitcoin worth $70 billion at the time of writing, making it the world's largest public corporate holder of Bitcoin.

Though the company's stock has climbed nearly 95% over the last year, it has been tumbling for the past few days. Its trajectory mirrors that of the asset the company has turned into a proxy of.

Related: What is Crypto? Cryptocurrency explained

MSTR falls in tandem with crypto market rout

While the MSTR stock has declined 14% since Sep. 19, Bitcoin has fallen 7% during the same period.

Bitcoin, which hit an all-time high (ATH) of $124,457.12 on Aug. 14, is at its lowest point after the start of September. As per Kraken's price feed, it was exchanging hands at $109,479.99 at the time of writing.

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In fact, the crypto market has seen positions worth $1.13 billion being wiped out within the last 24 hours. BTC saw $266 million in long and $7.6 million in short positions liquidated during the period.

Since Strategy is deeply tied to Bitcoin, the company's stock often mirrors the king coin's performance. The MSTR stock was trading at $301.38 at press time.

Did Saylor initiate BlackRock into Bitcoin cult?

BlackRock (NYSE: BLK) CEO Larry Fink recently talked about Saylor visiting the company's office to promote Bitcoin when the stock was "in its teens." This must have been around late 2020 when MicroStrategy had only begun acquiring BTC for its balance sheet.

BlackRock's spot Bitcoin ETF (IBIT), launched in January 2024, held net assets worth more than $87 billion as of Sep. 24, as per SoSoValue. The world's largest asset manager is also the largest issuer of a Bitcoin ETF.

Gold bull Peter Schiff believes bull market has kicked in. He posted on X:

"While so many companies have been busy copying Saylor's harebrained business strategy, few have noticed that $MSTR is down 45% from its Nov. 2024 high. This is going to be a brutal bear market for Bitcoin Treasury companies. I'm not sure if any, including MSTR, will survive it."

This story was originally reported by TheStreet on Sep 25, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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