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.

JSW Infrastructure reported Q4FY26 revenue of ₹1,520 crore, up 19% YoY, with EBITDA rising 20% and non-port revenue climbing 74% YoY. The non-port EBITDA margin expanded by 1,700 bps to 28.2%, while the company said the February rail consolidation added 25 rakes and is set to add 40 more in FY27. Management reiterated FY27–FY28 guidance of around 42% revenue CAGR and 39% EBITDA CAGR, with multiple port and pipeline projects described as on schedule and Oman port talks viewed positively. It estimated a ₹32 crore EBITDA hit at the Fujairah terminal after West Asia conflict-related damage, but kept overall guidance unchanged.

Strategy (MSTR) fell to $98.83, marking its first drop below $100 and leaving the stock down more than 80% from its November 2024 peak. The company holds 847,363 BTC worth about $53 billion at current prices, but with an average cost of roughly $75,656 per coin it is sitting on an unrealized paper loss of more than $11 billion. Recent steps including a BTC sale, a discounted convertible-bond repurchase and a reduced dividend-coverage buffer have added to concerns about its financial resilience. While the move does not directly hit traditional assets, MSTR’s role as a volatile Nasdaq-listed tech stock closely tied to the crypto narrative could reinforce risk-off sentiment toward high-valuation tech if the slide persists.

CryptoQuant’s CEO criticized MicroStrategy for continuing to buy Bitcoin, arguing it is intensifying cash-flow pressure as the company’s USD reserve has fallen 38% since the start of 2026 and annual dividend obligations have risen to $1.2 billion. He said Strategy has $1.1 billion in cash versus $2.8 billion needed to cover 24 months of dividends, while STRC fell to $82.50—its deepest 17.5% discount to par. The note also flagged MSTR testing the $100–$103 support zone, warning that a break below $100 would leave no major support until much lower.

Maryland state delegate Adrian Boafo won the Democratic primary for the state’s 5th Congressional District on June 23, a result seen as a win for the crypto industry’s political push. Protect Progress, the Democratic arm of the Fairshake crypto super PAC network, spent about $5.5 million backing Boafo. Total outside spending on his behalf was roughly $11 million when including pro-Israel group support.

Bitcoin could extend its decline and drop to as low as $55,000 before finding a bottom, analysts at 10x Research said. The firm points to a stronger U.S. dollar and expectations of a more hawkish Federal Reserve as key headwinds. It added that several indicators suggest a potential low could form between late August and October.

SpaceX has been public for only two weeks, but short interest has climbed to 13% from 8%, representing roughly 83 million shares sold short. The stock is down about 30% from its post-debut peak. Borrow costs remain low at around 1% while utilization has risen to 39%, suggesting active short positioning alongside ample stock available to lend. The shift underscores widening investor disagreement over the company’s $2 trillion valuation and the pace of profit delivery.

U.S. stocks opened higher early Wednesday as chipmakers rebounded sharply, with Micron Technology up about 4%, SanDisk nearly 3%, and the Roundhill Memory ETF (DRAM) up 3% after falling 13%–14% in the prior session. The bounce came ahead of Micron’s earnings announcement and lifted both the Nasdaq and the S&P 500. Oil prices slid, with Brent down 3% to $74 a barrel and WTI down 3% to $71, though the move in crude was not cited as the driver of the chip rebound.