MicroStrategy common stock is down 2.4% to $369.11 Thursday, depressed by a 1.8% drop in Bitcoin to $102,800. The stock is up 27% in 2025, while Bitcoin has gained 9%.

MicroStrategy has a $92 billion stock-market value. Photo: Stefani Reynolds/Bloomberg News If you think MicroStrategy ’s MSTR -2.34% business model is wild, wait until you see its tax issues.