The market is wrong about Strategy's stocks, expert says

Source: CritpoTendencia Original Title: The market is wrong about Strategy shares, expert claims Original Link: In recent months, Strategy (MSTR) shares have experienced a strong downward trend on the US stock exchange. The pullback in corporate treasury strategies in cryptocurrencies is palpable. This even predates the start of Bitcoin’s crash that began on October 10. This has caused MSTR to suffer a significant abandonment, bringing its performance to -38.82% so far in 2025.

Despite this difficult period, analyst Carmelo Alemán from the CryptoQuant platform assures that the market is misreading these assets. He emphasizes that MSTR shares should be much higher now than they are. The latter suggests that the recent decline in these shares is more based on subjective factors than organic ones.

In his view, the price of these assets should be much higher than investors currently assume. This is because traders are overlooking the data behind Bitcoin’s strategic balance sheet. Currently, the company holds 649,870 bitcoins in its corporate reserves, with an average purchase price of $74,433 per coin.

He highlights that this amounts to an unrealized gain of over +20%. It is a metric that best represents where the price of Strategy shares should be.

Strategy shares remain well below the key support level of $200.

Strategy shares could rebound upwards

The fact that MSTR is currently undervalued means that the natural market performance could bring them back to equilibrium. In the cited analysis, the expert uses CryptoQuant’s price bands applied to these shares to make his point.

The company’s shares fell below the lower band, indicating they are undervalued. Usually, this band becomes a previous line for a rebound. If history repeats itself, this level of underestimation could mark one of the most important inflection points in recent years, he explains.

MSTR could be approaching a bullish rebound.

Despite the optimism conveyed by the expert’s analysis, the market does not seem ready to boost Strategy shares. This Monday, Bitcoin’s price experienced a decline due to massive liquidations that extend the market’s bearish trend.

The correlation between the cryptocurrency and Saylor’s company shares is strong, and thus the recent drop in BTC could further punish MSTR.

Recently, the company’s CEO, Phong Le, highlighted the conditions under which Strategy could liquidate part of its bitcoins. He emphasized that it would be a last resort driven by losing access to capital and if its shares fall below the net asset value.