Strategy Stock Climbs After Bitcoin Holdings Cross Half A Million, BTC Hits $87K – Retail Remains Cautious

Strategy (MSTR) shares rose more than 5% in morning trade on Monday, tracking a broader market rebound after the company disclosed the purchase of 6,911 additional Bitcoin (BTC).

That brings the Michael Saylor-led company’s total holdings to 506,137 Bitcoin, worth roughly $42.8 billion at current prices, as it continues to be the largest corporate holder of the apex cryptocurrency.

According to a regulatory filing, the company bought the Bitcoin at an average price of $84,529 per BTC, including fees and expenses. 

The purchase was funded through proceeds from its at-the-market (ATM) stock sale programs, which involve both its common stock (MSTR) and newly issued preferred shares (STRK).

Between March 17 and 23, Strategy sold 1.98 million shares of MSTR, raising $592.6 million after fees. During the same period, it sold 13,100 shares of its 8% Series A Perpetual Preferred Stock (STRK), generating an additional $1.1 million.

The company’s 8-K filing indicated that it still has approximately $3.57 billion worth of MSTR shares and $20.99 billion worth of STRK shares available for sale under its ATM programs.

Strategy’s total average cost per Bitcoin now stands at $66,608, giving its Bitcoin investment a year-to-date return of 7.7% in 2025.

The rally in Strategy’s stock coincided with Bitcoin’s surge to $87,000 during U.S. trading hours, a 3% increase over the past 24 hours, according to CoinGecko data. 

Other crypto-related stocks also gained, with Robinhood Markets (HOOD) jumping more than 7%, Coinbase Global (COIN) rising 3%, and Bitcoin miners Marathon Holdings (MARA) and Cleanspark (CLSK) climbing over 8%.

On Stocktwits, retail sentiment around Strategy’s stock ticked upward but remained in ‘bearish’ territory amid tepid levels of chatter.

One user forecast that Strategy’s shares will likely pare their recent gains if Bitcoin’s price reverts to $85,000.

Another user pointed out that while Strategy and Bitcoin are gaining today, they’ve just about pared their losses over the past month. 

Strategy shares have gained around 9% this year but more than doubled in value over the past 12 months.

In comparison, Bitcoin has lost 5% of its value since January, with gains of around 40% over the past year. 

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