Strategy Shares Fall for Second Straight Day After $56 Billion Bitcoin Giant Sells BTC
Shares in the leading Bitcoin treasury firm Strategy (MSTR) are now more than 70% off their 52-week high after the company sold BTC.
By Logan HitchcockEdited by Andrew HaywardJun 2, 2026Jun 2, 20262 min read
In brief
- Shares in Strategy (MSTR) closed down more than 9% on Tuesday, one day after selling Bitcoin for the first time since 2022.
- TD Cowen maintained a $400 price target on Monday, nearly 200% above its Tuesday closing price of $136.08.
- Other top crypto firms, like Coinbase (COIN) and BitMine (BMNR), also saw their shares fall as crypto prices declined.
Shares in Bitcoin behemoth Strategy (MSTR) fell more than 9% on Tuesday, continuing a slide following the firm’s $2.5 million BTC sale disclosed on Monday.
The firm’s shares closed at $136.08 on Tuesday, now down nearly 15% in the last five trading days and more than 23% on the month.
Its precipitous fall coincides with a steep drop in the price of Bitcoin, which has fallen around 5.8% in the last 24 hours, recently changing hands at $67,288 and more than 46% off its all-time high mark of $126,080.
While Saylor had previously telegraphed the firm’s Bitcoin sale and the amount—32 BTC, or about $2.5 million worth—was just a fraction of its more than $56 billion BTC portfolio, shareholders have not reacted kindly to the firm’s decision.
Nevertheless, analysts at TD Cowen remain undeterred, maintaining their $400 price target for shares of MSTR—nearly a 200% gain from its current mark. Shares of the firm haven’t traded that high since August of last year, just before Bitcoin made its current all-time high.
As it stands, MSTR is now more than 70% off its 52-week high of $457.22.
It's not just Strategy shares that are being punished as crypto’s top assets fall, however.
Shares in leading American crypto exchange Coinbase fell more than 4.5% on Tuesday, changing hands at $173.99 at the market close. Similarly, shares in the firm have struggled alongside the broader crypto market this year, dropping more than 23% year-to-date.
COIN is now nearly 61% off its 52-week high—but analysts at Compass Point have even lower price targets, this week reiterating a forecast of $140, a further 19% drop from its current trading price.
Beyond the pair, other popular crypto-related equities have felt the pain in recent trading sessions. Ethereum treasury firms BitMine Immersion Technologies (BMNR) and Sharplink (SBET) fell 4.62% and 6.14%, respectively on Tuesday. BMNR closed at $17.98, while SBET finished the day at $5.81.
Other notable crypto losers on Tuesday include Bitcoin miner CleanSpark (CLSK) and BTC services firm Fold (FLD), which lost 6.5% and 8.4% respectively, closing at $17.58 and $0.87.
