Michael Saylor defends Bitcoin strategy as Strategy shares hit 52-week lows

Key Facts

1Strategy's common stock (MSTR) and its preferred stock (STRC) reached 52-week lows.

2Michael Saylor responded to scrutiny on X, defending the company's Bitcoin-focused strategy.

Amid persistent weakness in Bitcoin prices and pressure on crypto-exposed equities, Strategy's common stock (MSTR) and preferred stock (STRC) tumbled to 52-week lows, according to reports. In response to mounting scrutiny, CEO Michael Saylor took to X to defend the company's Bitcoin-centric strategy, reaffirming his long-term conviction.

The decline comes as the cryptocurrency market remains volatile, with Bitcoin facing sustained selling pressure. Strategy, formerly MicroStrategy, is the largest corporate holder of Bitcoin, making its stock a proxy for the digital asset's swings. The company has not issued an official statement on the sharp move.

At the close on June 25, MSTR shares stood at approximately $85.33, having touched a 52-week low of $85, against a high of $94.72 over the same period. Investors are watching for any further comments from Saylor or shifts in Bitcoin's trajectory, with no major catalysts immediately on the horizon.