MicroStrategy pressured as Bitcoin falls below $60,000; mNAV premium sinks to 0.87x

MicroStrategy is under pressure after Bitcoin fell below $60,000, leaving its BTC treasury below cost and its equity-NAV premium near 0.87x. The company holds around 713,500 Bitcoins at an average carrying price of about $76,000 per coin, and analysts note no immediate solvency risk, though dilution and refinancing challenges could mount if conditions persist.