- Strategy’s MSTR stock fell over 8% after Q2 revenue of $122.4 million missed estimates and Bitcoin slid below $63,000
- Michael Saylor identified five headwinds including AI data center capital diversion, trade tensions, restrictive Fed policy, and regulatory uncertainty
- Crypto stocks extended their selloff with Coinbase dropping 14% while $360 million in liquidations occurred across the market
Strategy shares tumbled more than 8% on Friday as Bitcoin slid below $63,000 following second-quarter results that missed Wall Street expectations. The company reported revenue of $122.4 million, slightly below estimates, alongside a loss of $24.45 per share according to Koyfin.
Executive Chairman Michael Saylor attributed Bitcoin’s weakness to five major headwinds, including massive capital flowing into AI infrastructure projects. He noted that “AI data center construction alone has diverted more than $1 trillion of capital” from companies like Google, Meta, and OpenAI.
Saylor also cited ongoing global trade tensions, the Middle East conflict, and restrictive Federal Reserve policy as additional headwinds. He stated that the CLARITY Act remains stuck in limbo, creating regulatory uncertainty for digital assets.
Crypto-related equities extended their selloff, with Coinbase dropping more than 14% after disappointing earnings. Circle Internet Group fell roughly 8% despite securing a trust charter from New York regulators.
The broader selloff triggered $360 million in liquidations over the past 24 hours, according to CoinGlass. Retail sentiment remained bearish, with traders warning Bitcoin could test lower support levels before stabilizing.
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