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MicroStrategy shares fell 35% to $127.69 while the firm added 3,459 BTC, pushing its treasury to over 531,000 coins worth $45 bn.
MicroStrategy (NASDAQ:MSTR) closed at $127.69, a 35.53% drop from a month ago, after a steep pullback in Bitcoin that left the cryptocurrency 21.27% lower at $63,495. The price move coincided with the company’s latest Bitcoin purchase, which lifted its on‑chain holdings to 531,644 BTC—now valued at more than $45 billion.
| At a glance | |
|---|---|
| Price | $127.69 |
| 1‑month change | –35.53% |
| Bitcoin price | $63,495 (‑21.27% m/m) |
| New BTC purchase | 3,459 BTC ($285.8 m) |
MicroStrategy announced a purchase of 3,459 BTC for $285.8 million, funded by the sale of nearly 960,000 Class A shares. The addition brings the company’s total Bitcoin balance to 531,644 coins, surpassing the $45 billion mark. The buy came after a larger acquisition of 6,911 BTC in late March that pushed the treasury past the 500,000‑coin milestone. Analysts note that the stock’s recent bounce off its 200‑day moving average was limited by resistance at the 50‑day average, suggesting technical pressure remains despite the fresh on‑chain inflow.
Wall Street analysts project a 66% upside over the next 12 months, with an average price target of $510.38, a high of $650 and a low of $175 across 13 forecasts. By contrast, bitcoin advocate Lawrence Lepard, speaking on Thoughtful Money, predicts a $1,000 per‑share price within a few years, arguing that MicroStrategy acts as a leveraged proxy for Bitcoin’s 30‑40% annual returns. Lepard’s thesis hinges on the company’s financing structure—equity and preferred‑stock issuances that fund Bitcoin purchases—while acknowledging the binary risk: a Bitcoin collapse could trigger a margin call or bankruptcy for the firm.
The consensus target of $351.54 from sell‑side analysts sits well above the current price but far below Lepard’s $1,000 vision. Polymarket traders assign only an 8% probability of a margin call in 2026, reflecting modest market concern despite the company’s high‑yield 11.5% preferred‑stock dividend obligations. The disparity between analyst forecasts and Lepard’s aggressive stance underscores the uncertainty surrounding MicroStrategy’s leveraged exposure to Bitcoin’s price swings.
MicroStrategy’s share price now reflects a tug‑of‑war between its expanding Bitcoin treasury and the heightened risk of leveraged exposure. Whether the latest purchase fuels a sustained rally or merely postpones a larger correction remains to be seen.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 23, 2026 · How we report
The company made its first Bitcoin purchase in August 2020, investing $250 million as a treasury reserve asset.
As of November 17 2025, MicroStrategy reported owning over 650,000 Bitcoins, worth approximately $59.69 billion.
Michael Saylor, as executive chairman, has driven the Bitcoin acquisition strategy and compared it to a Bitcoin spot leveraged ETF.
The company sold 704 Bitcoins on December 22 2022 for about $11.8 million, marking its first Bitcoin sale.
In 2025, MicroStrategy launched four credit instruments worth $4 billion, described as high‑yield perpetual securities linked to its Bitcoin treasury.