Strategy stock drops 9% as Bitcoin falls to around $82,300, near $76,038 average buy

Strategy’s shares fell more than 9% in the past 24 hours as Bitcoin declined about 6% to around $82,300, bringing the coin within less than $10,000 of the firm’s average cost. The move tightened the buffer on its large Bitcoin treasury and renewed scrutiny of the stock’s valuation premium and risk profile.