MSTR Stock Drops to $102, Michael Saylor's Bitcoin Strategy in Crisis

The MSTR stock has fallen from a record high of $545 to $102, costing Michael Saylor and his investors billions. Saylor has started selling Bitcoin at a loss after the company announced on Monday that it had sold over $200 million in Bitcoin. This is the first step to raise over $1.5 billion in cash, which is intended to be paid out as dividends to shareholders. The sale is occurring at a price of $63,000, well below the average purchase price of $74,000. The strategy of buying Bitcoin through stock sales shows signs of failure, as the BTC price has dropped by over 50%. Saylor needs over $1.7 billion annually for dividends and debt, while the software business is not generating enough revenue. Technically, the MSTR stock has experienced a strong sell-off and recently fell below the support level of $101.73. The Average Directional Index (ADX) shows a decline from 32.7 to 28, indicating a weakening recovery. There is a risk that the stock will resume its downward trend and reach the support level at $70.

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