Patten Jarrod M sold $81K of MSTR

Strategy Inc. (MSTR) rose 29% in five days, driven by Bitcoin purchases. Leveraged ETFs MSTU, MSTP, and MSTX surged ~60% over the same period. MSTR's volatility impacts these ETFs, which magnify daily moves. Bitcoin's price also influenced MSTR's performance.

MicroStrategy (MSTR) shares fell 7% on Friday, marking their worst week since November 2022, following a decline in Bitcoin prices. Bitcoin dropped 18% this week, its worst week on record, after MicroStrategy sold 32 Bitcoins, its first sale since 2022. Analysts lowered price targets for MSTR, with Canaccord reducing it by 27% to $163 and Mizuho lowering it to $265. Retail sentiment on MSTR is extremely bearish, with year-to-date losses of 23.8%.

MicroStrategy (MSTR) sold 4.82 million shares, raising $466.7 million, but did not buy or sell Bitcoin (BTC). Its USD Reserve increased to $3 billion. MSTR stock fell 3% in pre-market trading, and BTC dropped 2% to below $63,000. MSTR's BTC holdings remain at 843,775. Retail sentiment for both MSTR and BTC turned bearish.

Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE) fell on Wednesday due to rising rate hike expectations. BTC dropped to $83,654.39, while ETH declined to $2,600. Over $540 million was liquidated, with long positions heavily impacted. Analyst Ali Martinez sees a 'double bottom' pattern in BTC, targeting $100,000. Santiment noted increased holdings by wallets with 100-1,000 BTC.

Federal disclosures reveal accounts linked to President Trump sold and repurchased shares of MicroStrategy (MSTR) in July, with the stock rising 80% by September. MSTR's performance is tied to bitcoin, which recovered after a temporary halt in purchases. The accounts' activity, totaling 1,156 trades in July, includes other tech and crypto-related stocks, but MSTR's transactions are a small portion.

Bitcoin fell to $84.3K after strong U.S. business activity data raised expectations of Fed rate hikes. The S&P Global U.S. PMI Composite rose to 58.4 in September, beating consensus. The 10-year Treasury yield increased to 5.11%, and traders now see a 66.4% chance of a 25-bp rate hike in October. Ethereum and XRP also declined.