Strategy Shares Fall 11% From Oct. 2 High as Bitcoin Slips

Strategy shares (MSTR) fell 10.98% from their Oct. 2 intraday high to close at $151.47 on Oct. 8, as Bitcoin traded near $87,000 across several sessions before reaching an Oct. 9 low of $80,400.

MSTR declined $1.90, or 1.24%, on Oct. 8, trading between $147.37 and $153.63. The stock also fell 6.79% on Oct. 7 to close at $153.37.

Bitcoin (BTC) reached daily highs of $87,238.30 on Oct. 2, $86,994.30 on Oct. 5 and $86,693.70 on Oct. 6. Bitcoin closed at $81,031.30 on Oct. 8 in the same data.

Strategy’s equity has been closely tied to Bitcoin as the company holds a large Bitcoin treasury and partly funds additional purchases through MSTR share issuance. The company disclosed that it acquired 334 BTC between Oct. 1 and Oct. 4 for $28.7 million, paying an average of $85,838.80 per Bitcoin, including fees and expenses.

As of 4 p.m. ET (20:00 UTC) on Oct. 4, Strategy held 848,000 BTC with an aggregate purchase price of $63.97 billion. Its average cost was $75,440.70 per Bitcoin.

The purchase was funded with $15.7 million from MSTR share sales and $13 million in cash. Strategy sold 92,894 MSTR shares during the same period and had $18.83 billion in remaining at-the-market issuance capacity as of Oct. 4.

The company also repurchased 740,634 STRC preferred shares for $73.7 million during the period. Strategy estimated a $20.91 billion gain on digital assets for the quarter ended Sept. 30. Management prepared the estimate, which had not been audited or reviewed by KPMG.