MSTR pops after Strategy’s $1.25B bitcoin buy — and its ‘Stretch’ stock is doing more of the lifting
Bitcoin surged to a two-month peak Wednesday as Strategy revealed a $1.25 billion bitcoin purchase, sending its shares higher. Investors often see such moves as a signal for crypto-linked stocks. On Tuesday, U.S.-listed spot bitcoin ETFs recorded their largest daily inflows in nearly three months, fueling a risk-on vibe. Strategy, once known as MicroStrategy, has become the most prominent publicly traded "bitcoin treasury" firm — one that raises funds to pile up bitcoin. According to a recent U.S. securities filing, the company bought 13,627 bitcoin between Jan. 5 and Jan. 11, shelling out $1.247 billion at an average of $91,519 per coin. That lifts its stash to 687,410 bitcoin total. The firm said these purchases were financed by selling Class A common shares and its variable-rate Series A perpetual “Stretch” preferred stock, ticker STRC.