Proxy

Bitcoin

MSTR

Drops

Record

<h3 class="wp-block-heading" id="h-key-insights"><strong>Key Insights:</strong></h3>
<ul>
 <li>MicroStrategy’s (MSTR) mNAV has dropped to a new low of 1.06.</li>
 <li>MSTR stock fell more than 1% to $157.10 on Monday.</li>
 <li>Bitcoin price pared earlier gains and fell below $87K.</li>
</ul>
<p>The largest corporate Bitcoin treasury MicroStrategy (now Strategy) witnessed its key metric, mNAV fall to a record low. This comes after MSTR stock dropped more than 50% in the past three months.</p>
<p>The stock price was trading more than 1% lower on Monday, as Bitcoin price pared earlier gains and fell below $87K.</p>
<h2 class="wp-block-heading" id="h-microstrategy-mstr-mnav-drops-to-1-06-as-bitcoin-falls-to-85-000"><strong>MicroStrategy (MSTR) mNAV Drops to 1.06 as Bitcoin Falls to $85,000</strong></h2>
<p>MicroStrategy’s mNAV, which measures enterprise value against the value of its Bitcoin holdings, has reached a new low of 1.06. This has sparked further concerns among investors.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large">
  <img loading="lazy" width="1024" height="312" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/12/image-601-1024x312.png" alt="Strategy’s (MSTR) Bitcoin NAV and mNAV | Source: Strategy">
  <figcaption>
   Strategy’s (MSTR) Bitcoin NAV and mNAV | Source: Strategy
  </figcaption>
 </figure>
</div>
<p>According to the <a href="https://www.strategy.com/" target="_blank" rel="noopener noreferrer nofollow">its dashboard</a>, MicroStrategy’s enterprise value is $63.25 billion. However, Yahoo Finance and other sources show a lower enterprise value of around $60 billion.</p>
<p>MicroStrategy last purchased 10,645 BTC worth $980.3 million, increasing its total holdings to 671,268 BTC. The value of its total Bitcoin holdings fluctuates between $58.50 – $59 billion at the time of writing.</p>
<p>The mNAV dropped to a record low today as Bitcoin fluctuated between $87K and $90K. The price has since recovered slightly to above $87,200.</p>
<p>Experts warn that Bitcoin could fall further in the coming days amid headwinds and macroeconomic pressure.</p>
<p>Moreover, the Bitcoin treasury firm <a href="https://www.thecoinrepublic.com/2025/12/22/mstr-stock-soars-as-microstrategy-skips-btc-buy-boosts-usd-reserve-to-2-19b/" rel="noopener noreferrer nofollow">boosted its USD reserves</a> to $2.19 billion instead of buying more BTC. It shows MSCI delisting concerns and mNAV drop are weighing upon investors.</p>
<h2 class="wp-block-heading" id="h-mstr-stock-drops-further-amid-market-uncertainty"><strong>MSTR Stock Drops Further Amid Market Uncertainty</strong></h2>
<p>MSTR stock closed down 0.064% at $158.81 on Friday, as investors hope for a Santa Claus rally. However, the stock has dropped more than 1% in pre-market trading hours on Monday.</p>
<p>This further decline shows that investors are increasingly uncertain about MicroStrategy’s Bitcoin strategy, primarily amid worries about a possible MSCI delisting.</p>
<p>MSTR stock is witnessing increased selling pressure amid a rise in options put volume. Trading volume is also below the average trading volume of 16 million.</p>
<p>MSTR stock is down nearly 47% year-to-date (YTD). It has dropped almost 70% from its all-time high in July.</p>
<p>The drop follows heavy dilution of its Class A shares, and some expect the price could fall below $150 this week.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-under-selling-pressure"><strong>Bitcoin Price Under Selling Pressure</strong></h2>
<p>MicroStrategy (MSTR) executive chairman Michael Saylor and CEO Phong Le remain optimistic on MSTR stock and Bitcoin accumulation strategy. Saylor hinted at further Bitcoin purchases.</p>
<p>However, BTC price remains under pressure, with the price trading at $87,267 at the time of writing. The 24-hour low and high were $86,717 and $90,299, respectively.</p>
<p>Furthermore, trading volume has increased further by 192% in the last 24 hours. This indicates massive interest among traders.</p>
<p>CoinGlass data showed selling in the derivatives market in the last few hours. At the time of writing, the total BTC futures open interest tumbled more than 4% in the last 24 hours.</p>
<p>The 4-hour BTC futures open interest on CME and Binance dropped more than 2% and 5%, respectively. The 24-hour BTC futures OI was up 0.80% at $57.89 billion.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2025/12/29/bitcoin-proxy-microstrategy-mnav-slips-to-record-low-mstr-stock-tumbles/" rel="noopener noreferrer nofollow">Bitcoin Proxy MicroStrategy mNAV Slips to Record Low, MSTR Stock Tumbles</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Bitcoin Proxy MicroStrategy mNAV Slips to Record Low, MSTR Stock Tumbles

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 29, 2025

Join our free newsletter for daily crypto updates!