Strategy shares drop to $98.83, breaking below $100 for the first time since 2024

Strategy (MSTR) fell to $98.83, marking its first drop below $100 and leaving the stock down more than 80% from its November 2024 peak. The company holds 847,363 BTC worth about $53 billion at current prices, but with an average cost of roughly $75,656 per coin it is sitting on an unrealized paper loss of more than $11 billion. Recent steps including a BTC sale, a discounted convertible-bond repurchase and a reduced dividend-coverage buffer have added to concerns about its financial resilience. While the move does not directly hit traditional assets, MSTR’s role as a volatile Nasdaq-listed tech stock closely tied to the crypto narrative could reinforce risk-off sentiment toward high-valuation tech if the slide persists.