New York, Feb 25, 2026, 6:01 PM EST — After-hours
- Strategy (MSTR) finished up 8.9%, but slipped roughly 1% in after-hours moves
- Bitcoin jumped roughly 6.7% to trade near $68,400, sending crypto-related stocks higher.
- Strategy offloaded shares in a recent filing, putting the cash toward additional bitcoin purchases.
Strategy Inc surged 8.9% to finish at $135.65 on Wednesday, fueled by bitcoin’s strong bounce that lured buyers to a stock often seen as a liquid bitcoin proxy. Shares later slipped roughly 1% in after-hours action. (Finviz)
Bitcoin climbed 6.7% to trade near $68,400, a session that saw prices range from around $63,900 up to almost $69,800 earlier this day.
This shift is notable: Strategy’s equity has basically turned into a high-beta proxy for bitcoin exposure among U.S. stocks. Traders are still weighing how a more stable crypto backdrop might shape the company’s next funding moves.
Strategy unloaded 297,940 Class A shares in an at-the-market offering, raking in $39.7 million, according to a Feb. 23 filing. The company turned around and plowed those proceeds into 592 bitcoin at an average price of $67,286 each. As of Feb. 22, Strategy reported holding 717,722 bitcoin, acquired at a total cost of roughly $54.56 billion, or an average of $76,020 per coin. (SEC)
Strategy, in a statement Wednesday, reported that Prevalon Energy and Anchorage Digital revealed at Strategy World 2026 that both had allocated a portion of their corporate treasury to STRC, the variable-rate preferred stock issued by Strategy. Chief Executive Phong Le described STRC as the company’s “flagship digital credit instrument,” highlighting its 11.25% annual dividend, paid out monthly, and a structure aimed at “stable price dynamics.” (Business Wire)
Shares of crypto-exposed firms tracked the token’s action, with Coinbase Global jumping 13.5% for the session, Finviz data showed. (Finviz)
Reuters’ “Trading Day” column on Wednesday caught a broader chase for battered names—tech stocks, precious metals, even bitcoin—as buyers drifted back toward risk following two days of equity gains. (Reuters)
Even so, Strategy’s approach isn’t without tradeoffs. The company’s bitcoin purchases have leaned heavily on frequent capital raises; issuing more equity can drag down per-share value, even if bitcoin itself is climbing.
The stock doesn’t just track bitcoin; it often leaves the crypto behind, both on the way up and down. If bitcoin plunges, Strategy’s shares usually exaggerate the drop. That kind of swing can punish investors who jump in late, especially if the crypto recovery doesn’t hold.
The focus shifts to Las Vegas as Strategy World 2026 continues through Feb. 26. Bitcoin treasury plans and “digital credit” dominate the program, with investors zeroed in on any fresh details around Strategy’s funding mechanisms or how quickly it’s stacking bitcoin. (Business Wire)
