HomeCryptoDailyMSTR Stock Hits 52-Week Low as Bitcoin Slides Toward $80K ...

MSTR Stock Hits 52-Week Low as Bitcoin Slides Toward $80K Bhushan Akolkar

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 MSTR shares hit a new 52-week low, extending their one-year decline to 57% amid renewed Bitcoin weakness.
The post MSTR Stock Hits 52-Week Low as Bitcoin Slides Toward $80K appeared first on Coinspeaker. –   

Michael Saylor’s Strategy (NASDAQ: MSTR) has been struggling on Wall Street, hitting a fresh 52-week low on Jan. 29.

During the latest trading session, MSTR shares plunged more than 9.5%, falling to around $143.

The sharp decline came as Bitcoin

BTC
$82 644



24h volatility:
6.0%


Market cap:
$1.65 T



Vol. 24h:
$89.60 B



dropped another 7%, sliding to roughly $82,000 amid a broader market correction.

MSTR Stock Plummets Amid Bitcoin Weakness as Saylor Bets Big

MSTR shares showed no signs of bottoming out, plunging another 9.5% to around $143.

On a one-year basis, the stock is now down roughly 57%, pushing investor sentiment to the edge

This comes amid Bitcoin’s notable underperformance over the same period. Meanwhile, Michael Saylor continues to make bold bets with fresh Bitcoin purchases.

Bitcoin critic Peter Schiff noted that MSTR shares are down nearly 70% from their peak.

He added that Strategy co-founder and executive chairman Michael Saylor has spent roughly $54 billion over the past five years to accumulate more than 712,000 Bitcoin at an average price slightly above $76,000.

 

As of Bitcoin’s current price of $82,300, Strategy’s unrealized gains have fallen below 10%.

Some market experts warn that if Bitcoin declines further, falling below Strategy’s average purchase price, it could trigger a cascading sell-off.

Meanwhile, Strategy Chairman Michael Saylor announced that the company’s STRC preferred shares have delivered the first of an annualized Bitcoin return of around 11%, while mitigating roughly 85% of Bitcoin’s volatility.

Responding to this, Schiff wrote: “Yes, but where does the money come from to pay the 11% yield? MSTR is losing money. Paying the yield just adds to those losses.”

Bitcoin Plunges Below Key Support, Bear Flag Signals More Downside

Bitcoin has breached multiple support levels, dropping to $82,000 earlier today. Crypto analyst Crypto Patel noted that the downside momentum continued after the price broke below a key support level.

According to Patel, Bitcoin fell below $85,000 following a rejection from the $95,000-$98,000 zone, resulting in an almost 12% decline from recent highs.

 

Patel added that Bitcoin’s bear-flag breakdown remains intact, favoring further downside.

He outlined potential targets at $75,000 and $70,000, while noting that a higher-timeframe close above $90,600 would invalidate the bearish setup.

The post MSTR Stock Hits 52-Week Low as Bitcoin Slides Toward $80K appeared first on Coinspeaker.

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