Strategy Stock Premium Hits 10-Month Low as Bitcoin Falls, Firm Skips BTC Buy

Business intelligence software company Strategy, formerly known as MicroStrategy, signaled on Monday that it did not buy the latest dip in Bitcoin’s price.

In a Securities and Exchange Commission filing, Strategy stated that its holdings of 499,096 Bitcoin, worth $44 billion, remained unchanged amid chaotic price action last week.

Since the firm began buying Bitcoin under the leadership of co-founder and Executive Chairman Michael Saylor, Strategy has amassed the world’s largest corporate stockpile of Bitcoin. This year, the firm has purchased around $5.3 billion worth of the world’s largest cryptocurrency by market value..

So far, Strategy has been able to buy more Bitcoin than it could otherwise by taking on corporate debt as it has repeatedly in recent years. Convertible senior notes that Strategy has issued pay little in terms of interest, but they can be converted into shares under certain conditions by a buyer.

Strategy on Monday indicated that it did not raise more funds last week, nor did it sell any stock to purchase more Bitcoin. Still, the firm unveiled a dividend of $1.24 per share on its preferred “STRK” stock that’s set to be paid out at the end of this month.

While Strategy showed strong premarket gains, the firm’s stock price fell throughout Monday trading as hype cooled surrounding President Donald Trump’s renewed pledge.

On Sunday, Bitcoin’s price spiked to $95,000 after Trump said that Bitcoin would “obviously” be included in a “crypto strategic reserve,” alongside Ethereum, Solana, XRP, and Cardano. He first called for such a move on the campaign trail last year at a Bitcoin conference.

Strategy changed hands around $255 on Monday afternoon Eastern time, according to Yahoo Finance. Strategy’s stock price has dropped over 40% since it surged $474 in late November. Despite the swoon, however, the firm’s stock price is still up 138% over the past year.

Bitcoin plunges again

On Monday afternoon, as market participants digested Trump’s renewed call, Bitcoin’s had fallen 5.7% to $87,400, according to crypto data provider CoinGecko.

Strategy’s Bitcoin holdings have an average purchase price of around $66,357. In late January, Strategy purchased $1.1 billion worth of Bitcoin at an average price of $105,600.

As crypto prices boomed last year, the company’s value far exceeded that of its Bitcoin holdings. Known as Strategy’s premium to net asset value (NAV), that ratio reached a record 3.4x in November, according to MSTR Tracker.

On Monday, Strategy’s premium to NAV continued its months-long decline. Clocking in around 1.5x, the firm’s premium to NAV hit its lowest level since last April, when Strategy’s Bitcoin trove was valued at $12.5 billion.