Strategy (MSTR) may be approaching a tradeable bottom, not because of technical signals or specific fundamental changes, but because the amount of outrage, ridicule, and victory laps directed at the stock has reached classic capitulation levels.
Criticisms have become extremely loud over the past 24 hours, spurred by the collapse in Bitcoin and MSTR prices on Sunday night/Monday morning. All In podcast host and angel investor Jason Calacanis told his followers last night on [scheme]”.
Peter Schiff, whose disdain for cryptocurrencies needs no introduction, posted multiple messages on Monday calling the stock a bust and labeling Michael Saylor as Wall Street’s biggest liar.
The Financial Times weighed in on Strategy’s troubles on Tuesday morning. “What once seemed bold and brilliant now looks unstable and chaotic,” wrote Craig Coburn. “The gap between rhetoric and results has become difficult to ignore, especially when the share price clearly lags behind the assets it is supposed to track and amplify.”
Needless to say, Strategy’s critics were the big winners in 2025, as the stock plummeted more than 70% from its all-time high in late 2024. But no one is always right, and at some point, long-time critics become so vocal that their tone shifts from critical to arrogant, to the point where it often reflects an emotional state that is forming at or near the bottom.
In fact, Strategy quietly bottomed near $155 on Monday morning as the critics triumphed, but ended the day above $170. Shares rose even more on Tuesday and are now trading above $180, in the green for the week.
The action comes amid a modest rally in Bitcoin It fell below $84,000 early on Monday but had regained $90,000 in early U.S. trading on Tuesday.
Whether this marks a bottom for MSTR is uncertain, but the level of capitulation is becoming increasingly difficult to ignore.
