By George Glover
Strategy stock was slipping on Monday, following a sudden Bitcoin reversal that wiped out all of the digital asset's gains from last week.
Shares in the business software company, which is best known these days for its massive stockpile of Bitcoin, dropped 4.1% ahead of the opening bell.
Other crypto stocks were also sliding: digital-asset exchange Coinbase Global fell 3.7%, and online trading platform Robinhood Markets lost 3.2% in premarket trading. Futures tracking the S&P 500 were 0.6% lower.
The moves lower came with the price of Bitcoin down 5% to $86,532 over the past 24 hours. The cryptocurrency's losses accelerated once it broke below $90,000, which many analysts see as a key support level.
The plunge spoiled last week's mini-rebound for cryptos, which came as Wall Street piled back into other risk assets, including tech stocks. The big question for investors is if Strategy was also a buyer.
The company is expected to disclose on Monday whether it purchased any Bitcoin last week. It didn't buy any tokens the week ended Nov. 23 -- the first time in about a month and a half that it has stayed on the sidelines. If Strategy holds off buying again, it'll be the first two-week run since February without any purchases.
As of Nov. 17, the company owned just under 650,000 Bitcoins, a position valued at about $56.23 billion based on current prices.
Write to George Glover at george.glover@dowjones.com
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December 01, 2025 07:38 ET (12:38 GMT)
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