New York, January 26, 2026, 18:40 EST — After-hours
- Strategy shares dropped roughly 1.6% in after-hours trading following a filing that revealed new stock sales alongside a bitcoin purchase
- The company reported selling $257 million in common stock and purchasing 2,932 bitcoin last week
- Investors are setting their sights on bitcoin’s trajectory and Strategy’s upcoming earnings report on Feb. 5
Shares of Strategy Inc dropped roughly 1.6% in after-hours trading Monday, settling at $160.58. The decline came after the company revealed additional stock sales linked to its bitcoin purchase plan.
MicroStrategy has morphed into a liquid stand-in for bitcoin traders seeking equity exposure without holding the token directly. The spotlight remains on the company’s consistent capital markets activity to finance its coin acquisitions, especially as crypto volatility drives risk sentiment.
An SEC filing revealed Strategy offloaded roughly 1.57 million shares of its Class A common stock between Jan. 20 and Jan. 25, raking in $257 million in net proceeds. It also raised $7 million from its STRC preferred stock. The company used the funds to acquire 2,932 bitcoin at an average price of $90,061 each, spending about $264.1 million and boosting its total holdings to 712,647 bitcoin. These share sales occurred under an at-the-market program, allowing gradual sales into the open market. As of Jan. 25, Strategy still reported roughly $8.17 billion of common stock available for sale under this program. (SEC)
Executive Chairman Michael Saylor posted on X that “Strategy has acquired 2,932 BTC … at ~$90,061 per bitcoin,” with total holdings reaching 712,647 as of Jan. 25. (X (formerly Twitter))
Bitcoin jumped 2.6% late Monday, reaching roughly $88,520, after hitting a peak of $88,654 and dipping to a low of $86,264 earlier in the session.
The strategy’s pitch to investors is clear: it aims to increase bitcoin exposure per share through a combination of operating cash, equity issuance, and other financing methods. Investors, however, focus more on the rate of coin purchases and funding costs than on the software business itself.
But the trade carries risks. A steep plunge in bitcoin could erode the value of the company’s holdings and narrow the opportunity to sell stock or preferred shares under favorable conditions.
Basic dilution math also comes into play. Using fresh equity to fund purchases boosts bitcoin holdings but spreads ownership thinner across more shares, leaving the stock exposed if bitcoin’s price falters or stalls.
Strategy plans to release its fourth-quarter results after U.S. markets close on Feb. 5. The company will also hold a webcast at 5 p.m. Eastern, according to a statement. (Strategy)
Until that happens, traders will probably track the stock closely alongside bitcoin’s next shift — as well as any fresh SEC filings revealing how many coins Strategy sold or added to its holdings.
