Strategy’s NAV falls under 1, critics raise alarm after $5.7B Bitcoin wallet move

Strategy moves $5.7 billion in Bitcoin as its net asset value to its Bitcoin holdings drops below one for the first time, sparking valuation concerns amid marketwide speculation.

Bitcoin’s (BTC) latest drawdown has pushed the asset to its lowest price since May 2025, and Strategy’s MSTR stock is also feeling the pressure. Stock prices slipped to $197 at pre-market for the first time since October 2024, extending its woes.

Key takeaways:

Strategy’s $5.77 billion Bitcoin move is likely a custodial relocation.

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