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Strategy’s market cap falls below value of its bitcoin holdings

Strategy investors invented the term “mNAV” to boast about overpaying for MSTR stock. That came back to haunt them.

Michael Saylor mixes up his ‘treasuries’ in misleading MSTR tweet

Strategy founder Michael Saylor has made many dubious claims, but this week’s likening of MSTR to “digital treasuries” might take the cake.

Jim Chanos doubled his money shorting MSTR from its exuberant peak in November 2024. He also profited from BTC’s rally.

Several people have cheered on the FCKD joke, encouraging Saylor to issue a preferred stock with the ticker symbol STRU.

Strategy has to pay $689M to not sell any of its BTC, and those costs have increased every quarter since 2021.