Michael Saylor Hints at Another Bitcoin Purchase. Can MSTR Stock Recover from $120?

Key Insights:

• MSTR stock comes under strong pressure again as the company’s Bitcoin holdings are at $11.5 billion in losses.
• JPMorgan Chase has adopted a more cautious stance on Strategy over dividend obligations.
• Market participants remain divided on Strategy’s outlook, with some saying that the firm’s BTC leverage is manageable.

Last week, the MicroStrategy (MSTR) stock price corrected 18%, as the Michael Saylor firm sold 32 BTC for the first time in four years. The MSTR stock, which ended the week at $120, faces a major test going ahead. Michael Saylor has hinted at yet another Bitcoin purchase coming this week, while experts share mixed opinions regarding the stock moving ahead.

Michael Saylor Hints At Another Bitcoin Purchase

In his message on Sunday, June 7, Strategy chairman Michael Saylor shared the 19th Bitcoin tracker update of 2026. Thus, he has once again fueled the expectations of another Bitcoin purchase in the coming days.

According to the latest update, Strategy currently holds 843,706 BTC acquired at an average purchase price of $75,701 per Bitcoin. The company’s total Bitcoin investment stands at approximately $63.87 billion.

Based on current market prices, Strategy’s Bitcoin treasury is valued at roughly $52.4 billion. Thus, the largest Bitcoin holder is sitting on an unrealized loss of a massive $11.5 billion.

The impact of this on the MSTR stock is clearly visible. According to market data, Strategy’s Bitcoin position is currently down around 17% despite nearly six years of accumulating Bitcoins. Over the same period, the S&P 500 has gained approximately 116%.

Amid these developments, the MSTR stock price is currently down by a massive 77% from its all-time high. This reflects investors’ concerns over the strategy’s significant Bitcoin exposure and the overall crypto market.

JPMorgan’s Take on MSTR Stock Performance

Over the past month, the MSTR stock price has been on a steep downward slope, correcting 35%, falling all the way from the peak of $190. As a result, the stock has erased all the gains from April. Moreover, the 2026 gains also currently stand at a negative 24%.

Banking giant JPMorgan has questioned the recent 32 BTC sale coming from Strategy. They noted that although the sale was relatively very small, it has raised doubts whether the Michael Saylor firm would continue with further sell-offs ahead.

According to the bank, Strategy’s current cash reserves are sufficient to cover only about 6.3 months of dividend payments. JPMorgan estimates that the company faces approximately $1.7 billion in annual dividend commitments tied to its preferred stock offerings.

Thus, JPMorgan has shifted its stand on crypto and MSTR from positive to cautious. They cited concerns over the strategy’s long-term funding strategy and its potential impact on the broader cryptocurrency market.

Besides, JPMorgan also isn’t bullish about the passing of the CLARITY Act in the United States. The banking giant believes that there’s 50% less probability that the CLARITY Act could be passed into law this year.

Experts Take on What Happens to Strategy Ahead

Market experts have shared mixed opinions on how MSTR stock can perform going forward. Jiang Zhuoer, the CEO of Chinese miner BTCTOP, believes that Strategy is unlikely to become a significant net seller of Bitcoin.

According to Zhuoer, Strategy has a strong incentive to preserve its long-standing market reputation. He argued that even if BTC were to fall to $30,000, the firm’s leverage ratio would increase only from approximately 5% to around 10%, which he described as manageable.

The BTCTOP chief executive also defended Strategy’s preferred stock funding model. He stated that selling portions of its earlier, lower-cost Bitcoin holdings could generate accounting gains to fund interest payments on its STRC preferred shares.

He added that proceeds from new STRC issuances could then be used to continue purchasing Bitcoin. This will further allow Michael Saylor’s firm to continue with its net accumulation strategy.

On the other hand, veteran trader Eugene Ng Ah Sio said he has largely exited the cryptocurrency market and shifted his focus to U.S. equities. He has expressed a bearish outlook on both Strategy and its Bitcoin acquisition model, arguing that the company’s approach may be showing signs of strain.

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