New York, January 21, 2026, 17:47 EST — After-hours
- After the bell, strategy shares climbed, following bitcoin’s stronger momentum.
- A new SEC filing revealed additional bitcoin buys financed by selling shares.
- Traders are focused on the company’s results and webcast scheduled for Feb. 5.
Strategy Inc shares climbed roughly 2.3% after hours Wednesday, closing at $163.81. The stock swung between $156.03 and $165.61 throughout the session, with volume hitting around 18.4 million shares.
This move is significant since Strategy acts as a high-beta stand-in for bitcoin, with the company relying heavily on capital markets to boost its holdings. That approach can amplify gains when bitcoin climbs, but it also risks deepening losses quickly when the token falls.
Financing sits at the core. Investors are closely monitoring if Strategy can continue offloading stock without hiccups—and at what price—while bitcoin’s rollercoaster volatility keeps pushing risk tolerance to the limit.
A filing on Tuesday revealed Strategy purchased 22,305 bitcoin between Jan. 12 and Jan. 19, spending $2.125 billion at an average price of $95,284 per coin, boosting its total holdings to 709,715. During that same window, the company raised roughly $2.125 billion through at-the-market (ATM) programs—mechanisms allowing firms to sell shares directly into the market—selling 10.4 million common shares alongside smaller amounts of two preferred stock issues. The filing puts Strategy’s total bitcoin acquisition cost at $53.92 billion, or $75,979 per coin. (SEC)
Bitcoin climbed roughly 1.7% to $89,919, recovering from a low of $87,304 reached earlier today.
On Tuesday, billionaire Michael Saylor’s Strategy — formerly MicroStrategy — announced it had snapped up about $2.13 billion worth of bitcoin over eight days. The news didn’t help its stock, which dropped 7.4%, while bitcoin itself slid 3.6%. “Strategy is still buying Bitcoin because stopping would be as much a signal to the market as purchasing more,” said Nic Puckrin, analyst and co-founder of Coin Bureau. Earlier this month, Strategy reported an unrealized Q4 loss of $17.44 billion on its digital holdings. (Reuters)
The trade cuts both ways. Should bitcoin remain under pressure, the stock risks further losses, and investors might shy away from additional issuance—especially if the company leans more on preferred shares or other costly financing.
Strategy plans to release its fourth-quarter results after U.S. markets close on Thursday, Feb. 5, followed by a live video webinar at 5:00 p.m. Eastern to go over the details. Traders are keen to see if there’s any new information on bitcoin purchases or updates on how much fresh capital the company raises ahead of the release. (Strategy)
