TLDR
- MSTR rose 7.5% to above $120, hitting its highest level in two months as bitcoin briefly touched $79,400
- MSTR is up 27% over five trading days since August 17
- Strategy’s STRC preferred stock climbed above $96 for the first time since June, nearing its $100 par value
- Strategy holds 840,447 BTC worth around $65.2 billion, now back in unrealized profit of roughly $1.6 billion
- Strategy sold $333.7 million in MSTR stock between Aug. 10-16, using proceeds for STRC dividends and repurchases while building USD reserves to $4.8 billion
Strategy (MSTR) stock climbed 7.5% to above $120 in early trading on Friday, August 21, reaching its highest point in two months. The move came as bitcoin briefly pushed above $79,400, its highest price since May 2026.
MSTR is now up 27% over just five trading days since August 17, carried higher by a broad crypto market rally that saw total crypto market cap jump from $2.1 trillion to $2.5 trillion in a matter of days.
Bitcoin flipping Meta in market cap ranking drew fresh attention to crypto assets. Ethereum also touched $2,400 during the same stretch, adding fuel to the rally across crypto-linked stocks.
Other crypto stocks moved alongside MSTR. Coinbase (COIN) rose 6.81% to $184, while Circle (CRCL) gained 7% to trade at $89.
Strategy’s BTC holdings, which had sat at an unrealized loss of $10 billion back in June when bitcoin dropped to $61,000, are now back in the green. The company holds 840,447 BTC purchased at an average cost of $75,653 per coin. With bitcoin trading around $77,200, SaylorTracker puts unrealized profit at roughly $1.3 billion to $1.6 billion.
Analyst Samson Mow pointed out that short sellers who had bet against MSTR due to those earlier unrealized losses may now be forced to close their positions, which could trigger additional buying pressure and push the stock higher.
STRC Preferred Stock Closes In on $100
Strategy’s STRC preferred stock climbed above $96, its highest level since June, after falling below $70 during a selloff earlier this summer that raised concerns about the company’s ability to service its roughly 11.5% APY dividend. STRC was designed to hold near its $100 par value through a variable monthly dividend.
CEO Phong Le has previously stated that STRC needs to recover to between $99 and $100 before Strategy can resume buying bitcoin. That milestone is now within reach.
Strategy Builds Cash While Pausing Bitcoin Buys
Strategy has not bought bitcoin in roughly two months. Between August 10 and August 16, the company sold $333.7 million worth of MSTR stock, making no bitcoin purchases during that period.
Of those proceeds, $52.4 million went toward STRC dividends and $132.2 million went toward STRC repurchases under its Digital Credit Securities Repurchase Program. Strategy also built its USD reserve to $4.8 billion.
Strive’s SATA preferred stock, a similar bitcoin-linked instrument, also returned to $100 on Friday after falling below $84 in late June.
On the index front, TD Cowen pushed back against MSCI’s methodology that could remove Strategy from its ACWI IMI index, calling the proposal arbitrary and directed at excluding specific types of issuers.
Chinese microcap MicroCloud Hologram disclosed Friday that it acquired 140,268 MSTR stock through maturity and settlement of structured notes, worth roughly $15.8 million at the time of closing.
Technically, MSTR faces resistance at its 100-day EMA of $122. A close above that level could open a path toward the 200-day EMA at $156. The RSI sits at 66, suggesting momentum still favors buyers without the stock being overbought.
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