Strategy (MSTR) might be on the brink of a tradeable bottom, not due to technical indicators or a specific change in fundamentals, but rather because the overwhelming volume of anger, ridicule, and triumph directed at the stock has reached classic levels of capitulation.
Triggered by a price drop in bitcoin and MSTR over the weekend, critics have been particularly vocal in the last 24 hours. Angel investor Jason Calacanis, known for his All In podcast, urged his followers on X to offload MSTR and invest directly in bitcoin, asserting, “Told y’all this would happen.” He further labeled Strategy as “a remarkable pyramid [scheme].”
Peter Schiff, who is infamous for his crypto skepticism, tweeted several times on Monday denouncing the stock and calling Michael Saylor the largest con artist on Wall Street.
The Financial Times weighed in on Tuesday morning, celebrating Strategy’s struggles. “What was once perceived as bold and brilliant now appears erratic and chaotic,” wrote Craig Coben. “The discrepancy between rhetoric and results has become hard to overlook, especially as the stock price significantly lags behind the asset it is designed to track and amplify.”
Unsurprisingly, Strategy’s critics have emerged as the big winners of 2025, with the stock plummeting over 70% from its record highs in late 2024. However, no one remains correct forever, and there comes a time when long-term detractors become so loud and arrogant that it often signals a changing market sentiment, typically indicative of a bottom forming or nearing.
In fact, while the critics celebrated their victories, Strategy quietly reached a low near $155 on Monday morning but managed to close above $170. Shares increased further on Tuesday, now trading above $180 and showing gains for the week.
This movement coincided with a slight rebound in bitcoin , which had dipped below $84,000 early Monday but has since reclaimed the $90,000 mark during Tuesday morning’s U.S. trading.
While it remains uncertain whether this signifies a definitive bottom for MSTR, the level of capitulation is becoming increasingly challenging to ignore.
