NEW YORK, January 27, 2026, 11:48 EST — Regular session
Strategy Inc (MSTR.O) shares edged down 0.3% to $160.17 in late-morning trading Tuesday, as investors digested another disclosed bitcoin purchase amid ongoing volatility in risk assets. Bitcoin climbed 1.4% to $88,655.
Strategy, the company formerly known as MicroStrategy, has emerged as one of the market’s sharpest “bitcoin proxy” plays — its stock often moves more with bitcoin than with its core software operations. That puts every update on purchases and funding front and center, especially with a week full of central bank news looming. (Strategy)
Strategy revealed in an 8-K on Monday that it acquired 2,932 bitcoin from Jan. 20 to Jan. 25, shelling out $264.1 million at an average price of $90,061 per coin. To foot the bill, the company sold 1,569,770 shares of common stock, generating net proceeds of $257.0 million, and offloaded 70,201 shares of its variable-rate Series A perpetual preferred stock (STRC) for roughly $7.0 million. The filing put total bitcoin holdings at 712,647 as of Jan. 25, with an average cost of $76,037 each. Strategy also mentioned it tracks bitcoin purchases and holdings via a web dashboard for transparency. It still has about $8.17 billion in common stock capacity and $3.62 billion in STRC capacity left on its at-the-market programs. (SEC)
Shares tied to crypto showed varied moves: Coinbase slipped 1.0%, whereas bitcoin miners Marathon Digital and Riot Platforms climbed 3.4% and 6.3%, respectively.
Cantor Fitzgerald kicked off coverage on Strategy, assigning an “overweight” rating and setting a price target of $213, a report released Tuesday shows. (Investing.com South Africa)
Several analysts regard the ongoing buying as typical behavior at this point. “It is certainly the playbook for them these days,” Nathan Schmidt, an analyst at CFRA Research, told Fortune. (Fortune)
The challenge lies in the financing. With an at-the-market program, a company can gradually sell shares directly into the market, generating steady cash flow—but this also dilutes the stock, putting pressure on the share price as the total share count grows.
But the trade swings both ways. If bitcoin takes another tumble or the market tightens for raising cash, buying could slow down — and Strategy’s shares tend to outpace the coin in both rallies and drops.
Macro risks remain front and center as the Federal Reserve holds its policy meeting Jan. 27-28, wrapping up with a decision and chair’s press conference on Wednesday. (Federal Reserve)
Strategy plans to release its fourth-quarter results after U.S. markets close on Thursday, Feb. 5, followed by a live video webinar at 5 p.m. Eastern. (Strategy)
Traders are eyeing the Fed’s decision on Wednesday next, followed by Strategy’s earnings report on Feb. 5 — watching closely for clues on whether the company continues its steady bitcoin purchases.
