Key notes
- The MSTR Stock Active value bonus (NAV) is compressed from 2x in January to 1,44x, reflecting the fatigue of investors.
- Peter Schiff argued that microstrategy would be in a stronger position with gold instead of bitcoin due to liquidity problems.
- Michael Saylor reported a continuous BTC accumulation despite volatility.
Since he reached the summits of $ 442 in July of this year, the Strategy Stock (MSTR) has evolved laterally, eroding all the gains of 2025, according to the closing price of $ 309 on Friday, September 26. Market analysts note that the MSTR stock echoed the 2021-2023 support, which sparked an accident of 50% after loss of support. Peter Schiff noted that Michael Saylor would have been better to own gold instead of Bitcoin.
Does the MSTR equity price envisage another Krach of 50%?
As the performance of MSTR shares descend in the middle of the lateral movement for a very long time, market analysts weigh the potential of an additional 50%. Crypto analyst Ali Martinez noted that Strategy Stock (Nasdaq: MSTR) reflects its price model 2021-2023. According to Martinez, the $ 257 level is crucial support. Ventilation below this threshold could open the way to a drop to $ 120.
The MSTR stock forms a fractal model | Source: Ali Martinez
MSTR action stimulates institutional attention because it is negotiated with a premium greater than the value of its Bitcoin holdings. However, in 2025, this bonus fell considerably, because the value of the company’s (NAV) of the company was compressed from 2x in January to 1.44x at present. Despite this, the MSTR continued to attract institutional actors while the Royal Bank of Canada increased its participation in MSTR by 16% in the last quarter.
Analysts suggest that the decline reflects the fatigue of investors in the midst of slower Bitcoin purchases. With the eroding of bonuses, the holding of MSTR shares does not offer any particular advantage to investors compared to the holding directly of Bitcoin. The trend raises questions about the attraction of microstrategy actions in relation to direct exposure to the BTC.
On the date, Michael Saylor’s strategy is on a massive battery of 640,000 BTC with a massive value of $ 70 billion according to the current Bitcoin price. Some investors fear that if the BTC price is more blocked, MSTR’s shares may undergo major pressure, triggering a forced sale and major relaxation.
Peter Schiff tells Michael Saylor: Better with gold on Bitcoin
Gold Peter Schiff’s buff argued that the Bitcoin strategy of Microstrategy makes it vulnerable compared to a gold investment. Schiff noted that the company is currently making a paper gain of around 47% on its Bitcoin purchases of $ 47.3 billion. However, if Saylor had chosen gold on Bitcoin, the gain would have been 30%.
But according to Schiff, the main difference here lies in liquidity. He argued that microstrategy could liquidate $ 61.5 billion in gold without disturbing the market. On the other hand, the sale of $ 70 billion in BTC could crush the price of bitcoin and trigger mass liquidations. Despite recent criticisms, Michael Saylor remains determined to add more bitcoins to the treasure of his business. In his recent tweet on Sunday, September 28, Saylor hinted other purchases to come.
Still in stacking pic.twitter.com/xmt5ra0dyl
– Michael Saylor (@saylor) September 28, 2025
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Bhushan is a fintech enthusiast and has a good flair in understanding the financial markets. Its interest in the economy and finance draws its attention to the new technology of emerging blockchain and the markets of cryptocurrencies. He is permanently in a learning process and motivates himself to share his acquired knowledge. In free time, he reads fiction novels to thriller and sometimes explores his culinary skills.
