Strategy Slides on Weakening Bitcoin and Rising Interest Rates

Strategy Inc's stock price dropped by nearly 3.9% in morning trading today, reaching $137.30, as investors reacted to a weakening Bitcoin and rising interest rate expectations.

The decline of Strategy shares is directly linked to the performance of Bitcoin, which slipped below the significant $80,000 level on Monday, closing at around $79,116, down over 1.5% from its previous value.

The main macro headwind driving this trend stems from last Friday's strong US August employment report, showing a higher-than-expected number of new jobs created, which sent rate-hike probabilities higher and pressured risk assets across the board.