Strategy

Bitcoin price climbed back above $60,000 on Wednesday, lifting Bitcoin treasury stocks, with Strategy (MSTR) and Strive (ASST) surging more than 10% intraday.

Bitcoin-backed preferred shares — led by Strategy and emerging players like Strive—have grown into a roughly $13B market by offering high-yield.

Strategy (MSTR) shares surged 14% at times on Monday after the company unveiled a sweeping capital overhaul, leading a broad rally in bitcoin-linked stocks despite Bitcoin remaining under pressure near $60,000.

Strategy (MSTR) unveiled a new capital management framework that raises STRC's dividend to 12%, authorizes $2 billion in share buybacks, and permits limited bitcoin sales to fund reserves, dividends, debt obligations, and stock repurchases.

Michael Saylor took to X to defend Strategy's long-term Bitcoin-focused strategy after MSTR and its preferred shares hit new lows.

Strategy shares plunged some more today as Bitcoin fell to $59,000.

Strategy (MSTR) plunged more than 10% to a two-year low near $92 as Bitcoin crashed below $60,000, wiping out billions in unrealized gains.

Strategy (MSTR) shares fell below $100 for the first time since March 2024 as Bitcoin's drop to around $61,000 left the company sitting on more than $11 billion in unrealized losses.

Bitcoin price has fallen to around $61,500—down more than 50% from its October 2025 peak—dragging crypto-related stocks even lower in the broader market sell-off.

Strategy purchased 520 bitcoin for $35 million last week, increasing its holdings to 847,363 BTC while raising its USD Reserve by $335 million to $1.4 billion.