Bitcoin extended its monthslong decline, dropping 11% to $67,000, its lowest level in 15 months. The digital asset, often described as digital gold, has fallen 46% from its Oct. 6 record high of $126,210.50, as volatility continues to roil markets. As of 10:30 a.m. ET Thursday, the price was around $67,245. Following President Trump’s 2024 election, Bitcoin had risen for much of the subsequent year on expectations of a more crypto-friendly administration, but the current slide underscores renewed uncertainty in the sector.
Strategy, the leading crypto treasury firm that raises money to buy bitcoin, tumbled 13% as sentiment remained fragile. The company, formerly MicroStrategy, holds 713,502 bitcoin, with an average purchase price above $76,000, leaving the position underwater. Its bitcoin holdings were worth about $47.8 billion on Thursday morning, far below the $54.3 billion cost cited by Strategy.
Trump-affiliated crypto ventures also pulled back: American Bitcoin, in which Trump’s sons hold a stake, fell 6.6% and remains down more than 80% since October 7. Other Trump-related crypto projects have similarly declined. The World Liberty Financial token (WLFI) dropped to roughly $3.25 billion in market value from above $6 billion in mid-September, while the meme coin named for President Trump, TRUMP, traded at about $3.93, far below the $45 price seen around his inauguration.
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