Wall Street recently reduced its holdings of MicroStrategy (MSTR) stock by approximately $540 million. By Q3 2025, the institutional holding value of the stock decreased by 14.8%, with top funds such as Capital International and BlackRock also reducing their positions.

The main reason for the reduction is the popularity of the $BTC Bitcoin spot ETF, leading institutions to shift towards direct investments in Bitcoin, which has weakened the proxy value of MSTR's Bitcoin. However, it still holds over $30 billion in institutional market exposure and may take on a more strategic role in hedging and leverage tools in the future #比特币波动性 .