New York, Feb 1, 2026, 04:48 ET — Market closed.
- After a volatile week, the strategy closed Friday up 4.6%, reaching $149.71.
- Bitcoin slipped roughly 5%, hovering near $78,700, adding strain to crypto-linked stocks.
- Investors are eyeing Strategy’s Feb. 5 earnings for clues on funding moves and bitcoin plans.
Shares of Strategy Inc climbed Friday, clawing back losses from volatile moves earlier in the week, even as bitcoin’s decline pushed on into the weekend.
The stock stands out as one of the market’s clearest liquid proxies for bitcoin, with Strategy holding 712,647 bitcoins, per the company’s purchases dashboard. The firm actively promotes its capital strategy focused on growing that bitcoin reserve. (Strategy)
It’s significant because the company is scheduled to release its fourth-quarter results after U.S. markets close on Feb. 5, followed by a webcast at 5 p.m. Eastern. Investors will be closely watching for any shifts in the speed or methods of bitcoin purchasing. (Business Wire)
Bitcoin dropped to its lowest level in two months on Friday as investors weighed speculation about the U.S. Federal Reserve’s leadership and its impact on liquidity and risk appetite. “When you start talking about pulling the rug out from underneath that, gold and crypto can lose support,” said Damien Boey of Wilson Asset Management. (Reuters)
Strategy’s trading has followed a similar rollercoaster. On Friday, shares surged 4.6%, rebounding from a 9.6% fall the day before, per Investing data.
Shares of other U.S. crypto-related companies slipped on Friday: Coinbase fell 2.2%, Marathon Digital dropped 3.4%, and Riot Platforms plunged 8.7%.
Crypto markets may be headed for a reset instead of a rapid rebound, according to some analysts. Sean Farrell, Fundstrat’s head of digital asset strategy, pointed out there are “no clear catalysts on the immediate horizon.” He suggested a “value zone” might form in the mid-$70,000s over the next few days or weeks. (Investopedia)
How the strategy funds purchases significantly boosts its sensitivity. A January SEC filing detailed sales through an at-the-market program — a setup allowing a company to sell shares gradually on the open market — as well as other securities issuance that backs bitcoin acquisitions. (SEC)
However, the setup works both ways. If bitcoin drops further, Strategy’s shares could tumble even faster than the asset itself. Plus, a weaker stock price makes equity-funded purchases more dilutive — which is why investors pay close attention to the company’s “bitcoin per share” updates.
Options traders are gearing up for a sharp move around earnings. According to OptionSlam data, implied swings ahead of the Feb. 5 report are expected to hit the high single digits for the week. (Optionslam)
Looking ahead to this week, Monday’s open will be the first real test—can bitcoin hold steady around recent lows, and will Strategy maintain Friday’s bounce? The next major event is Feb. 5, when the company unveils its report and answers questions on funding and its bitcoin strategy.
