MSTR Stock Outperforms Bitcoin While Wall Street Loads Up On Strategy — Except For Morgan Stanley

• Morgan Stanley Investment Management was the only major institutional investor to reduce its stake in Strategy.
• Capital International Investors, Vanguard and BlackRock were among the firms that increased exposure to the company.
• Strategy has outperformed Bitcoin so far in 2026, even though both assets remain under pressure over the last 12 months.

Shares of Strategy (MSTR) gained in midday trade on Wednesday amid Bitcoin’s (BTC) recovery to $77,000 after institutional data showed that almost every major investor on Wall Street increased its exposure to the Bitcoin proxy, except one – Morgan Stanley (MS).

According to data shared by Strategy CEO Phong Le, the company’s top institutional shareholders added to their positions during the first quarter (Q1) of 2026, with Capital International Investors making the largest addition. It increased its position by roughly $1.9 billion, bringing its total stake to $5.58 billion. 

Out of the 15 players, 13 added to their position, while Morgan Stanley Investment Management bucked the trend and reduced its stake by $7 million, lowering its total holding to around $992 million. Norges Bank Investment Management maintained its position of $679 million.

Vanguard Portfolio Management added approximately $967 million, while BlackRock Institutional Trust boosted its holding by about $377 million. State Street, UBS, Geode Capital Management and Capital World Investors also increased their positions during the quarter.

MSTR Gains While Bitcoin Reclaims $77,000

MSTR’s stock gained 1.75% in midday trade, while retail sentiment around the company on Stocktwits trended in ‘bearish’ territory and chatter stayed at ‘low’ levels over the past day. 

It outperformed Bitcoin, which rose around 0.6% in the last 24 hours to trade at $77,200. Retail sentiment around the apex cryptocurrency trended in ‘bearish’ territory over the past day, alongside ‘normal’ levels of chatter.

So far this year, MSTR’s stock has gained over 8% while Bitcoin has dropped more than 11%. However, in the last 12 months, Strategy’s shares have plummeted over 60%, while Bitcoin is only down 26%. 

Michael Saylor’s Bitcoin Buying Continues Despite Crypto Slump

Crypto analyst PlanC said in a podcast on Wednesday that Saylor’s ongoing Bitcoin purchases helped absorb broader sell-side pressure across the market. 

Despite the crypto bear market since October last year, executive chairman Michael Saylor has continued to accumulate Bitcoin on the company’s balance sheet. This week its made a $2 billion purchase of Bitcoin – its second such purchase in less than a month – bringing its total holdings to nearly 850,000. At Bitcoin’s current price, that’s valued at around $65.17 billion.

Read also: Ethereum Climbs After Five-Day Slide, But Wintermute Warns ETH Is ‘Wrong Asset’ For Current Macro Backdrop

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