Strategy (NASDAQ:MSTR) is down to $90—a 20% drop since Monday—prompting a debate over the sustainability of the company’s BTC-backed financing strategy.     In an X post on June 24, expert author Shanaka Anslem Perera cited Strategy’s August 2025 filing pointing to a scenario where shares traded below 1x NAV, then it would consider issuing credit to repurchase its own stock.