<div id="readability-page-1">Michael Saylor’s Strategy is starting to fall apart, and there’s no more pretending otherwise. Over the weekend, Cryptopolitan reported that Bitcoin had dropped under $76,000, breaking the line that had been holding up Saylor’s plan for years, which is exactly $76,037, the average level where Strategy Inc. bought its Bitcoin.And now, Saylor is officially underwater.The MSTR stock is down nearly 70% from the top. The company isn’t getting a premium on its shares anymore. And it’s getting harder to raise money. The model doesn’t work the way it used to.<h3>Bitcoin’s current crash takes out the last support level</h3>Right now, Strategy owns more than 712,000 BTC. But the value of that stash is shrinking fast. Bitcoin fell to $74,541 on Monday, nearly matching the low of $74,425 from last April, right after Donald Trump won the 2024 election. It’s now the lowest level since then.The drop finished off a brutal January. Bitcoin lost almost 11% last month, its fourth red month in a row. That hasn’t happened since the crash after the 2017 bull run.There’s no immediate emergency. There’s no margin call. They don’t have to sell any Bitcoin. And Strategy still has $2.25 billion in cash from past stock deals.But the bigger issue is, what now? No one’s buying their stock like they used to. Without new buyers, they can’t keep running the same playbook.Saylor’s whole idea was to sell shares when the price was high, then use that cash to buy more Bitcoin. It was a smart way to build the treasury without borrowing more. That worked when investors were excited. Now that excitement is gone. The Strategy keyword is no longer enough to convince traders. Everyone’s watching other things; AI stocks, gold, silver, whatever’s moving.Bitcoin also doesn’t act the way it used to. Inflation? Didn’t help. Dollar dropping? Didn’t help. Even when regulators sounded positive, the coin just sat there. People are tired. The narrative’s broken.<h3>Strategy’s stock now trades like a tracker, not a bet</h3>With the stock no longer trading above its Bitcoin value, Strategy can’t pull the same trick again. Selling new shares now would dilute what’s already left, and there’s no upside.The market cap and the value of the Bitcoin they own are almost the same. So when Bitcoin falls 1 or 2%, it drags the stock down with it. It’s that tight.Traders expect more losses when U.S. markets open. Gold is down too, after the biggest one-day drop in ten years. Everything’s shaky. And Strategy’s setup depends on confidence. Without that, it’s just a company holding coins. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.</div>

Michael Saylor's Strategy Inc. faces significant challenges as Bitcoin falls below its average purchase price of $76,037, putting pressure on the company's financial model. With MSTR stock down nearly 70% and Bitcoin's value declining, Strategy's ability to raise funds and attract investors is diminishing. The company's stock now trades closely with Bitcoin's value, leading to further losses. Despite having $2.25 billion in cash, the lack of investor interest and a broken narrative around Bitcoin raises concerns about the future of Strategy's operations.

- Michael Saylor's Strategy is struggling as Bitcoin drops below $76,000, the critical level for his investment plan.  
- With MSTR stock down nearly 70% and fewer investors buying shares, the company faces challenges in leveraging its Bitcoin holdings.  
- The market's lack of confidence has turned Strategy's stock into a tracker for Bitcoin's value, limiting its ability to raise funds and execute its previous strategy.

Cryptopolitan

Invesco Galaxy Bitcoin ETF

CoinShares Bitcoin ETF

VanEck Bitcoin ETF

Amplify Transform Data Sharing ETF

Grayscale Bitcoin Miners ETF

Coinbase

MicroStrategy Pref Shares MSTR 8.0 Perp

ProShares Bitcoin Strategy ETF

Fidelity Wise Origin Bitcoin Fund - ETF

Grayscale Bitcoin Premium Income ETF

MicroStrategy Pref Shares MSTR 10.0 Perp

Riot Platforms

WisdomTree Bitcoin Fund

Leverage Shares 2x Cpd Acclrtd MSTRMnETF

Galaxy Digital

GraniteShares 2x Long MARA Daily ETF

Direxion Daily Crypto Industry Bull2XETF

GraniteShares 2x Long MSTR Daily ETF

Mara

Roundhill MSTR WeeklyPay ETF

Hut 8 Mining

Bitwise Bitcoin ETF

ARK 21Shares Bitcoin ETF

Daily Target 2X Long MSTR ETF

Strategy

iShares Bitcoin Trust ETF

Grayscale Bitcoin Trust BTC - ETF

T-REX 2X Long MSTR Daily Target ETF

Grayscale Ethereum Staking ETF

Defiance Leveraged Long + Inc MSTR ETF

Franklin Bitcoin ETF

Strategy faces mounting challenges under Michael Saylor