• MSTR is down 41.52% over the previous 12 months, whereas Bitcoin is up 14.54% over the identical interval.
• MicroStrategy has delivered 16.9x returns since 2020 in comparison with Bitcoin’s 8.2x returns.
• The 2x leveraged MSTR ETF plunged 88.40% as volatility compounded losses for holders.

MicroStrategy’s inventory efficiency has diverged considerably from Bitcoin’s in 2025, with the inventory down 41.52% over the previous 12 months, erasing years of outperformance. Over the identical interval, Bitcoin rose 14.54%, making a 57-point efficiency distinction between the 2 property.

Charlie Bilello, chief market strategist at Inventive Planning, highlighted this disparity. “Final 12 months’s returns…Bitcoin $BTC: +15% MicroStrategy $MSTR: -42% 2x Lengthy MicroStrategy ETF $MSTU: -88%. Know what you personal and why you personal it,” Bilello stated.

Historic outperformance creates expectations

Annual efficiency information reveals a sample for MicroStrategy that grows Bitcoin returns in each instructions. In 2024, MSTR rose 342% in comparison with Bitcoin’s 109% rise, outperforming it by 233%. The inventory repeated this sample in 2023, rising 336% versus Bitcoin’s 154%, topping 182%.

Nonetheless, in a bear market, this relationship reversed. In 2022, MSTR fell 75% and Bitcoin fell 65%, leading to a 9% underperformance. Equally, in 2021, MSTR rose 32% in comparison with Bitcoin’s 60% and underperformed by 28%.

Since August 2020, MicroStrategy has achieved a return of 16.9x in comparison with 8.2x for Bitcoin over the identical interval. This long-term outperformance has established investor expectations that MSTR will proceed to increase BTC’s features.

Present market circumstances inform a distinct story. As of November 14, 2025, MSTR was buying and selling at $208.54 per share, down 30.49% year-to-date and down 54.26% from its 2025 peak. Bitcoin is buying and selling at $97,000, up 2.59% because the starting of the 12 months.

Liquidation considerations dismissed

Issues about MicroStrategy’s liquidation danger are circulating on social media. Some analysts have advised that Saylor’s positions might face pressured liquidation if Bitcoin reaches $75,000. Nonetheless, customers have revealed that this declare is fake.

The corporate’s common price foundation is roughly $73,765, that means that costs beneath this degree end in unrealized losses fairly than pressured gross sales. MicroStrategy’s Bitcoin purchases will probably be financed by way of bonds and convertible notes, fairly than margin borrowing.

Michael Saylor reacted to the market scenario with a submit titled “Get your future with $STRD.” He additionally expressed confidence within the firm’s technique regardless of the destructive outcomes.

The lengthy 2x leveraged MicroStrategy ETF (MSTU) has suffered losses, plummeting 88.40% over the previous 12 months. This product amplifies every day returns in each instructions, producing compound losses that exceed the decline in MSTR during times of volatility.

associated: https://currencyjournals.com/why-is-crypto-down-today-1b-liquidated-as-869m-etf-outflow-hits/