New York, February 6, 2026, 17:14 EST — Trading after the bell.
- Strategy shares bounced roughly 26% higher after hours, clawing back losses from the previous session’s steep drop.
- Bitcoin climbed back over $70,000 after an overnight slide that took it close to $60,000, giving a boost to crypto-related stocks.
- Traders are now trying to gauge if the bounce will last, after Strategy logged a $12.4 billion quarterly loss linked to shifts in bitcoin prices.
Strategy Inc (MSTR) jumped roughly 26% to $134.93 in Friday’s after-hours session, following bitcoin’s quick snapback after two days of heavy selling that shook crypto-related stocks.
Why does this matter? Strategy acts almost like bitcoin on steroids, and the wild swings this week have spotlighted how it’s funded once again. The firm’s whole play revolves around stacking bitcoin in its treasury, right next to its original enterprise analytics operation. 1
Bitcoin took a sharp dive Thursday, briefly dropping a shade above $60,000 overnight. By the U.S. cash close, though, it had bounced back, reclaiming $70,700, Investopedia’s market recap showed. 2
Strategy shares swung between $109.45 and $135.50 on Friday, Nasdaq data showed, with roughly 57.1 million shares changing hands.
After a rough Thursday that saw shares tumble 17%—investors were hit by Strategy’s latest quarterly numbers and a fresh slide in bitcoin—the stock bounced back. 2
Strategy reported a fourth-quarter net loss of $12.4 billion, or $42.93 per diluted share, late Thursday, after chalking up a $17.4 billion unrealized loss tied to its digital assets. Most of that pain was on paper: fair value rules require bitcoin’s price swings to hit earnings, regardless of whether the company actually sold. 1
Chief executive Phong Le said the company brought in $25.3 billion in 2025 to “advance our Bitcoin treasury strategy,” pushing total holdings up to 713,502 bitcoins. The firm spent $54.26 billion in all—an average of roughly $76,052 for each coin. 1
Strategy CFO Andrew Kang said the company set up a $2.25 billion “USD Reserve” to secure funding for two to three years’ worth of preferred dividends and interest payments. By the close of 2025, cash and cash equivalents totaled $2.3 billion. 1
Software was barely a blip compared to the bitcoin headlines. Strategy posted $123 million in fourth-quarter revenue; subscription services jumped 62% year-on-year, but product support slipped. 1
The downside is pretty clear. If bitcoin loses momentum, Strategy’s results could take another big hit under fair-value rules, putting its financing and ability to meet preferred payouts under real pressure. Its main “STRC” preferred stock was paying an 11.25% dividend as of early February—lofty, especially if the risk trade sours. 1
The turnaround on Friday stretched beyond just Strategy. Shares tied to crypto—MARA Holdings, Coinbase Global, Robinhood Markets—snapped back too, picking up as bitcoin bounced, according to Investopedia. 2
All eyes now turn to bitcoin’s grip on the $70,000 level over the weekend and into Monday’s U.S. hours, with traders watching closely for any new word from Strategy about its capital-raising or BTC stash. Investors are also watching February 28—that’s when the next STRC monthly dividend is set to hit, following the company’s revised dividend adjustment framework. 1
