Strategy CEO Hints Bitcoin Sales May Loom as Shares Sink

Concerns are rising that Strategy Inc. soon may be forced to sell some of its roughly $56 billion cryptocurrency haul if token prices continue to fall, leading its shares to wobble in pre-market trading.

Strategy’s mNAV — a key valuation metric comparing the firm’s enterprise value to the value of its Bitcoin holdings — sat at about 1.2 on Monday, according to its website, spurring investor fears it may soon turn negative.