What Happened?
Shares of bitcoin development company Strategy (NASDAQ: MSTR) jumped 5.3% in the morning session after the company announced another significant Bitcoin purchase, which happened as the cryptocurrency's price surged past the $92,000 level.
The enterprise software firm, known as the world's largest corporate holder of Bitcoin, disclosed that it had acquired an additional 1,286 bitcoins for approximately $116 million. This purchase increased its total holdings to more than 673,000 BTC. The stock's movement closely followed the digital asset's climb, a common pattern given the company's massive exposure to the cryptocurrency. The positive sentiment was further supported by a social media post from the company's executive, Michael Saylor, which teased more potential Bitcoin buys. The broader market for crypto-related stocks also experienced gains, lifted by Bitcoin's strong performance.
After the initial pop the shares cooled down to $163.33, up 3.6% from previous close.
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What Is The Market Telling Us
Strategy’s shares are extremely volatile and have had 55 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 3.4% on the news that the price of Bitcoin rose and investment bank Benchmark reaffirmed its 'Buy' rating on the company.
The global cryptocurrency market cap saw an increase, with Bitcoin gaining 1.52% to trade around $89,168. This move positively impacted MicroStrategy, whose corporate strategy is heavily linked to its large Bitcoin holdings. Adding to the bullish sentiment, investment bank Benchmark reiterated its confidence in the company's long-term plan by maintaining a 'Buy' rating and a $705 price target for 2026. The bank's positive view centered on the company's massive exposure to Bitcoin. This rebound came after a period of significant decline for the stock, which had fallen nearly 58% in the preceding three months.
Strategy is up 3.9% since the beginning of the year, but at $163.33 per share, it is still trading 64.2% below its 52-week high of $455.90 from July 2025. Investors who bought $1,000 worth of Strategy’s shares 5 years ago would now be looking at an investment worth $3,810.
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