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MicroStrategy shares fell 6% to $149.78 after a 32‑BTC sale; Mizuho lowered its 2027 Bitcoin price target to $94,000.
MicroStrategy (NASDAQ:MSTR) stock slid 6% to $149.78 on June 1 following the company’s first Bitcoin sale since 2022, a move that also coincided with Mizuho trimming its 2027 Bitcoin price target to $94,000—a signal that both equity and crypto markets are reacting to the firm’s shifting treasury strategy.
| At a glance | |
|---|---|
| Stock price | $149.78 (‑6%) |
| Bitcoin price | $72,000 (‑3% 24h) |
| Sale size | 32 BTC for ≈ $2.5 million |
| Catalyst | First BTC liquidation since Dec 2022; Mizuho price‑target cut |
The SEC filing disclosed that MicroStrategy sold 32 BTC between May 26‑31 for roughly $2.5 million, the smallest liquidation since the 704‑BTC sale in December 2022 [1]. The company still holds a massive treasury of 843,706 BTC (≈4% of total supply) [1][3], acquired at an average cost of $75,651 per coin [3]. The sale represents less than 0.004% of its holdings, but the breach of Michael Saylor’s “never sell” pledge sparked a broader sell‑off in crypto‑linked equities, pulling MSTR down 60% over the past year and dragging Bitcoin 3% lower in 24 hours [1].
Mizuho reduced its MicroStrategy price target from $320 to $265, maintaining an Outperform rating, and lowered its end‑2027 Bitcoin forecast from $128,000 to $94,000 [1][2]. The cut reflects a more modest view of Bitcoin’s upside, even as the cryptocurrency sits near $72,000, down 32% from its October 2025 peak of $126,080 [3]. The revised forecast implies a further 27% decline from current levels, underscoring heightened uncertainty about Bitcoin’s trajectory.
Bitcoin’s price has fallen over 52% since its October 2025 high, leaving MicroStrategy with roughly $14 billion in unrealized losses at current prices [3]. Despite the loss, the firm’s treasury still commands a $2 billion reserve to cover about two years of preferred‑dividend payouts [2]. Polymarket assigns a 63% probability that MicroStrategy will buy more Bitcoin between June 2‑8, indicating market participants see the recent sale as a tactical, not structural, move [1].
The reaction to MicroStrategy’s modest BTC liquidation highlights how tightly the company’s equity price is linked to sentiment around its treasury strategy, even though the sale itself is financially insignificant relative to its massive holdings. The key question now is whether the firm will resume buying to offset the loss or continue a more flexible approach that could further influence Bitcoin’s market dynamics.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 10, 2026 · How we report
MicroStrategy provides business intelligence, mobile software, and cloud‑based services for data analysis and visualization.
MicroStrategy is the largest corporate holder of Bitcoin in the United States, though it recently recorded an $8.32 billion loss from Bitcoin sales.
Yes, the company has moved from a long‑term holding approach to becoming a net seller of Bitcoin.
Some analysts, such as those at Bernstein, continue to forecast a bullish Bitcoin price target of $150,000.
MicroStrategy went public on June 11 1998.