Strategy’s MSTR beats S&P 500 with 40% gain in Q2 – Details

• Strategy’s $14 billion Q2 gain highlights its strong Bitcoin-driven performance over its software business.
• Public firms are accumulating BTC ETFs, signaling rising institutional confidence in crypto.

Strategy (formerly MicroStrategy) has once again captured market attention, this time with its stock jumping 7.76% to $402.28, according to Google Finance.

MSTR stock jumps sky-high

The company, trading under the NASDAQ ticker MSTR, isn’t gaining momentum from its software business, but rather from its massive Bitcoin [BTC] holdings, which exceeded 528,000 BTC as of March.

With those assets valued at approximately $43.5 billion, Strategy is on track to post a staggering $14 billion gain for Q2 2025.

Since pivoting to a Bitcoin-focused strategy in 2020, the company’s stock has soared over 3,300%, far outpacing Bitcoin’s own 1,000% gain during the same period.

In Q2 2025 alone, MSTR jumped 40%, easily outperforming the S&P 500’s 11% rise.

This trend isn’t unique to Strategy. Japan’s Metaplanet—another crypto-forward firm—reported a 42% quarter-over-quarter revenue surge in its Bitcoin operations, also beating S&P 500 growth estimates.

Notably, for the third consecutive quarter, public companies with large Bitcoin treasuries have outpaced ETFs in net BTC accumulation, signaling rising institutional conviction in crypto.

MSTR outpaces various tech giants

Seeing this, Bloomberg recently reported that Michael Saylor’s (Chairman of Strategy) crypto strategy could translate into an unrealized second-quarter gain of approximately $14 billion, placing Strategy in the league of corporate giants like Amazon and JPMorgan.

Interestingly, these massive gains are not backed by traditional operations, as analysts expect the company to report only $112.8 million in software revenue.

Instead, the impressive performance stems from Bitcoin’s rebound and a recent shift in accounting standards affecting how crypto assets are valued on balance sheets.

Remarking on the same, Michael Saylor took to X and noted, 

Source: Michael Saylor/X

Mixed community reaction

As expected, the crypto community too appreciated this success of Strategy, as noted by an X (formerly Twitter) user who said, 

“Strategy teasing everyone with a bull flag. Anyday now. $MSTR. Patience.”

Echoing similar sentiments, another X user, Cole, added, 

Source: Cole/X

This coincided with the firm recently outpacing U.S. spot ETFs in Bitcoin accumulation, signaling a shift in institutional confidence.

While this surge reinforced the growing appeal of direct Bitcoin exposure through corporate treasuries, it also sparked criticism.

Notably, longtime Bitcoin skeptic Peter Schiff aimed at these companies, suggesting that their aggressive crypto positions were more speculative than strategic.

This added fuel to the ongoing debate over Bitcoin’s role in corporate finance.

He stated,

“All the companies adding Bitcoin to their balance sheets are either Bitcoin treasury companies or crypto-related businesses. No non-crypto companies are adding Bitcoin to their balance sheets.”

He further added,

“This is concentrated crypto speculation, not broad-based adoption.” 

Bitcoin’s price action

Meanwhile, Bitcoin’s recent rebound, following a dip to $105K, reignited bullish sentiment in the market.

With a 2.19% gain in the last 24 hours, at press time, BTC appears to be regaining its footing.

If this upward momentum sustains, Bitcoin could be on track to challenge the $111K resistance once again, potentially marking a key breakout point.

As institutional accumulation strengthens and market sentiment leans optimistic, all eyes are now on whether BTC can maintain this trajectory and solidify a new leg up in the current cycle.