What's up with Bitcoin hitting $110,000/BTC while MSTR drops to $365/share?

What’s the deal with Bitcoin soaring to around $110,000/BTC but MSTR taking a hit at $365/share? Is MSTR facing some issues like GBTC where the premium might just disappear? The value of MSTR could end up matching the worth of its Bitcoin stash. As of May 27, 2025, MicroStrategy has around 580,250 BTC in its possession. With Bitcoin priced at about $109,488 per BTC, those holdings are valued at roughly: 580,250 BTC × $109,488 = about $63.6 billion. To break it down simply, if we ignore the business value and debts just for a rough estimation: $63,600,000,000 divided by 273,400,000 shares equals around $233 per share.