Key Highlights

● Strategy fell steeply on Friday, October 30, 2026, tracking Bitcoin lower.

● The company holds 848,517 bitcoin.

● Bitcoin traded between about $76,700 and $77,600, down from about $86,000 earlier in the month.

● A reported $6.3 billion Binance hack triggered crypto's slide.

Strategy Inc. (NASDAQ:MSTR) fell steeply on Friday, October 30, 2026, tracking a slide in bitcoin. The Tysons Corner, Virginia-based company, formerly known as MicroStrategy, holds 848,517 bitcoin, which ties its shares closely to the price of the cryptocurrency, and Friday's move was firmly to the downside. Reports differed on the size of the decline, with readings ranging from the morning to the close.

Bitcoin traded around $76,700 to $77,600 on Friday, down from about $86,000 earlier in the month. Ether fell to around $2,237.

The Binance shock

The catalyst for crypto's slide was a reported breach at Binance. The exchange was reportedly hacked for about $6.3 billion, which would be the largest crypto heist on record. TRM Labs and Elliptic tied the attack to North Korea. Roughly $3 billion has been frozen, and Binance pledged to cover losses, with withdrawals expected to resume by Sunday, according to market data.

Binance co-CEO Richard Teng said: "We are committed to covering all hacked losses through our company funds." A digital-assets research head struck a more cautious note. "I suspect the negative price action still has some way to go," he said.

The episode even drew in Elon Musk. "Elon, have a lot of respect for you, but bad time to troll. Please stop," Binance co-founder Changpeng Zhao told him, according to market data.

Strategy's quarter

Strategy's third-quarter results were dominated by bitcoin's earlier gains. The company reported Net Income of $19.53 billion and Earnings of $44.75 a share on a $20.91 billion digital-asset gain. Revenue fell to $125.4 million, short of the $129.0 million analysts had expected. The quarterly gain reflected bitcoin's rise during the three months through September, before October's slide.

The company also said Chief Financial Officer Andrew Kang will step down November 5. Strategy made no bitcoin purchases in the week to October 25 and repurchased $204.9 million of its STRC preferred stock.

Crypto stocks fall together

Strategy had company. Coinbase Global (NASDAQ:COIN) tumbled after weaker trading revenue, Robinhood Markets (NASDAQ:HOOD) fell sharply, and Circle Internet Group (NYSE:CRCL) dropped. Bitcoin miners Riot Platforms (NASDAQ:RIOT), Hut 8 (NASDAQ:HUT), MARA Holdings and CleanSpark all slid.

The broader market had its worst day since June. The Nasdaq Composite fell 747.73 points to 25,437.00, its worst session since June 5, and the Nasdaq-100 closed at 28,384.85. The S&P 500 lost 140.32 points to 7,580.07 and the Dow Jones Industrial Average dropped 572.25 points to 51,770.31, as Intel (NASDAQ:INTC)'s warning and Amazon (NASDAQ:AMZN)'s cash-flow figures hit technology stocks.

The Federal Reserve held rates steady this week, and markets have priced in a December hike. Gold also fell, losing $132.50 to $3,898.90, a 52-week low.

What to watch

The price of bitcoin is the most important variable for Strategy. Investors will watch whether Binance restores withdrawals by Sunday as planned and whether more stolen funds are recovered or frozen.

The company's Leadership transition, with Kang stepping down November 5, will also be in focus. On the macro calendar, the midterm elections are Tuesday, November 3, and the October jobs report arrives Friday, November 6. Shifts in Fed rate expectations could also sway appetite for bitcoin and the stocks tied to it, after a month in which the Cryptocurrency fell from about $86,000.