New York, February 5, 2026, 05:19 EST — Premarket
- Strategy shares dipped roughly 3% in premarket as bitcoin plunged over 6%
- A recent SEC filing revealed a new bitcoin purchase financed through share sales and an increased preferred dividend rate
- Strategy is set to release its fourth-quarter results after the market closes, with investors watching closely
Strategy Inc (MSTR.O) slipped roughly 3.2% to $129.09 in premarket action on Thursday, following a $133.33 close the day before.
The stock has often moved in step with bitcoin, reflecting the company’s bitcoin-heavy balance sheet. Now, with bitcoin slipping again, traders are testing if Strategy’s financing approach holds up when risk appetite drops.
Bitcoin slipped about 6.2% to $71,325, hitting a low of $70,052 in Asian trading as selling accelerated. Analysts linked the drop to Kevin Warsh’s nomination as the next Federal Reserve chair and fresh worries over tightening central bank liquidity. Deutsche Bank noted heavy outflows from institutional bitcoin ETFs since October’s selloff. “The market fears a hawk with him,” said Manuel Villegas Franceschi of Julius Baer. (Reuters)
Shares of other crypto-related U.S. companies slipped ahead of the open. Coinbase dropped nearly 6%, and miners Marathon Digital and Riot Platforms each lost around 8%.
In an SEC filing dated Feb. 2, Strategy revealed it bought 855 bitcoin for $75.3 million between Jan. 26 and Feb. 1, pushing its total holdings to 713,502 coins at an average price of $76,052 each. The company said it used an at-the-market (ATM) program to fund the purchase — a setup that lets it sell shares periodically. It also raised the dividend rate on its STRC preferred stock from 11% to 11.25%, noting the Feb. 28 dividend is expected to be treated as a return of capital for U.S. federal tax purposes, up to a holder’s basis. With bitcoin’s price on Thursday, the stash is valued at about $50.9 billion, still shy of the $54.26 billion total purchase cost. (SEC)
On Wednesday, Canaccord Genuity slashed its price target on Strategy to $185 from $474 but maintained a “buy” rating, MarketBeat reported. (MarketBeat)
Strategy plans to release its fourth-quarter earnings after U.S. markets close Thursday, followed by a video webinar at 5 p.m. Eastern, the company said in a statement posted on Nasdaq. (Nasdaq)
To a lot of investors, enterprise software has slid down the priority list. The real play now is bitcoin exposure — and how Strategy bankrolls it — with the shares frequently outpacing the token’s own swings.
The tie also works in reverse. Should bitcoin slip firmly under $70,000, paper losses on Strategy’s holdings will worsen, and raising new capital could become pricier—especially if equity markets remain cautious.
Thursday’s results and call will draw investors’ attention, looking for shifts in Strategy’s buying pace, its willingness to issue stock or preferred securities, and its take on liquidity as bitcoin hovers near $70,000 support.
