MicroStrategy Stock Falls Over 12% After Announcing Potential Bitcoin Sales

MicroStrategy said on Dec. 2 it may sell portions of its bitcoin holdings if its internal mNAV metric falls below 1 and refinancing becomes unavailable. The firm established a $1.44 billion cash reserve through share issuance to prepare for potential market downturns. MSTR stock fell over 12% intraday on Monday, extending year-to-date losses to approximately 40%, while bitcoin declined over 4%. The company holds approximately $82 billion in convertible bond obligations.