MicroStrategy shares slip below $100 as Bitcoin retreats under $61,000

Bitcoin fell back toward the $61,000 level, touching an intraday low of $60,913. The price decline pressured Strategy (formerly MicroStrategy), whose common stock dropped to about $99.10, marking the first time it traded below $100 since February 2024. The company’s preferred security, STRC, also slid to a record low of $82.50, pushing its yield toward 14%.

In response, Strategy raised $335.5 million by selling roughly 2.71 million common shares between June 15 and June 21. About $300 million was placed in a cash reserve, while $34.9 million was used to purchase 520 Bitcoin, bringing its total holdings to roughly 847,363 BTC. The dilution increased the diluted share count to about 388.6 million and lowered the company’s BTC‑Yield metric to 11.8% from 13% a month earlier. Analysts noted the move was intended to shore up the balance sheet and support the preferred‑share financing structure, with Quinn Thompson of Lekker Capital saying, “This is exactly what we’ve been advocating for — use MSTR issuance to raise cash to bolster the balance sheet.”