Michael Saylor Defends Strategy as MSTR and Preferred Shares Hit 52-Week Lows

Strategy shares crashed 80% from their peak as Bitcoin fell to $58,000. Saylor tweeted a defense, but the company faces $14B in paper losses and $1.2B in annual dividend obligations.

• MSTR shares and STRC preferred shares both hit 52-week lows with MSTR down over 80% from its peak
• Strategy holds 847,363 BTC at an average price of $75,680, now trading at a $17,000+ loss per coin
• Annual dividend obligations have quadrupled to $1.2 billion while cash reserves fell 38% this year
• Preferred shares trade at a 26% discount to par, breaking the capital-raise mechanism
• CryptoQuant urged Strategy to halt Bitcoin purchases and rebuild cash to $2.8 billion

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