Strategy (NASDAQ: MSTR) shares fell 5.5% to $150 on Friday, hitting their lowest price since April 17. The drop came as the company sold Bitcoin for the first time since 2022 — a move that rattled retail traders and pushed the stock into a six-week low.
The Bitcoin sell-off
Strategy, the corporate Bitcoin heavyweight led by Michael Saylor, offloaded some of its BTC holdings this week. The exact amount sold wasn't disclosed in the initial reports from CoinGape, but the sale itself is notable: the company hasn't touched its Bitcoin stash since 2022. That long stretch of holding made this sell decision stand out.
Why retail traders are selling MSTR
The Bitcoin sale triggered a wave of retail selling in MSTR shares. Traders who bought the stock as a Bitcoin proxy seem to have lost confidence, or at least decided to take profits or cut losses. With the stock now at $150, it's the weakest level in about six weeks. Retail sentiment tends to amplify moves like this, and it's showing.
This isn't a full liquidation — Strategy still holds a massive Bitcoin pile. But the decision to sell even a portion marks a shift in posture after years of steady accumulation. The stock's slide suggests investors aren't taking it well. Whether the company will sell more, or whether this was a one-off, remains the open question. For now, MSTR is sitting at a six-week low, and the market's watching for the next quarterly filing or official statement.
