Strategy shares slide under $100 on June 23 as Peter Schiff warns Bitcoin may be sold for buybacks

Strategy (formerly MicroStrategy) shares fell below $100 on June 23, dropping 5.82% to $97.79 and extending losses to about 20% over the past five trading sessions and more than 38% over six months. Bitcoin critic Peter Schiff said persistent short pressure could force the company to sell Bitcoin to repurchase stock, raising fresh questions about the resilience of its capital structure. The company sold about 2.71 million MSTR shares last week for $335.5 million, allocating $35 million to buy 520 BTC and moving the remainder into U.S. dollar reserves.