Since Strategy’s first token sale, MSTR has nearly halved; top short-position whales are sitting on $1.32 million in unrealized profits.
According to Hyperinsight monitoring, MicroStrategy (MSTR), the Bitcoin treasury proxy stock, continues to face downward pressure. Since the company’s first Bitcoin sale this year—selling 32 BTC in late May to cover preferred stock dividends—MSTR’s share price has fallen 48% cumulatively. Over the past 24 hours alone, it dropped another 13.8%, trading at $84 on Hyperliquid—the lowest level in two years—and leading declines across the HIP-3 market. The company’s unrealized losses on its Bitcoin holdings have now exceeded $13 billion.
