Overview

• MSTR traded around $295–$300 after a steep slide, tracking Bitcoin’s drop below $110,000 to its weakest level since early September.
• The company holds about 639,835 BTC, valued near $69–$70 billion, making it the largest corporate Bitcoin holder.
• The closely watched mNAV multiple has been reported near 1.195, down from 3.4 last November, reducing scope to raise equity at favorable terms; reports also say Michael Saylor relaxed an informal 2.5 issuance threshold in August.
• Management has continued to accumulate Bitcoin, with reports of roughly 850 BTC added last week, financed by ongoing stock sales.
• Chart watchers flag breakdown risks and a possible death cross, with one analyst warning of potential declines toward $260 or even $240, as critics like Peter Schiff predict a brutal bear market for BTC‑treasury firms; Reuters also reports SEC and FINRA are reviewing sharp pre‑announcement stock moves in the sector.