Technique (MSTR) shares have declined for six consecutive months for the primary time for the reason that agency adopted bitcoin as a treasury asset in August 2020, in line with a efficiency desk shared Thursday by crypto analyst Chris Millas.
In a Jan. 1 put up on X, Millas highlighted the uncommon streak and hooked up a chart displaying Technique’s month-to-month returns since 2020. The info present the inventory posted uninterrupted losses from July by means of December 2025, together with declines of 16.78% in August, 16.36% in October, 34.26% in November and an additional 14.24% drop in December.
Whereas Technique has skilled steeper single-month losses prior to now, the chart exhibits these drawdowns have been sometimes punctuated by sharp rebound months. Through the 2022 bear market, for example, massive declines have been adopted by rallies of greater than 40% inside a couple of months. The absence of any comparable aid rally within the second half of 2025 marks a break from that historic sample, suggesting a extra persistent repricing reasonably than a short-lived selloff.
Technique shares closed Dec. 31 at $151.95, down 2.35% on the day, in line with Google Finance. The inventory is down 11.36% over the previous month, 59.30% over six months and 49.35% over the previous yr.
Bitcoin has held up higher over comparable durations. In response to CoinDesk Knowledge, bitcoin was buying and selling at $87,879 as of midday ET on Jan. 1, up 0.38% over the previous 24 hours. The flagship cryptocurrency is down 5.06% over the previous month, 27.36% over the previous three months and 9.65% over the previous yr.
The divergence has emerged whilst Technique continued so as to add to its bitcoin holdings. On December 29, government chairman Michael Saylor introduced on X that the agency had acquired 1,229 BTC for about $108.8 million. As of Dec. 28, Technique held 672,497 BTC acquired for roughly $50.44 billion, he mentioned.
Technique’s fairness efficiency additionally lagged the broader market. The Nasdaq 100 index, of which the corporate is a constituent, rose 20.17% in 2025.
