Strategy buys $1.25B in Bitcoin, but MSTR stock lags – Why?

For a lot of late 2025, Michael Saylor’s technique was hindered by a risky closing quarter and the consequences of an MSCI index exclusion cycle.

As 2026 begins, that pause seems to be fading away.

Technique’s new Bitcoin buy

Based on a recent SEC filing, the corporate has kicked off 2026 with an enormous $1.25 billion acquisition. The agency scooped up 13,627 Bitcoin [BTC] at a premium common of $91,519.

That stated, the corporate funded the $1.25 billion acquisition by way of a dual-track inventory sale, offloading 6.8 million MSTR shares and producing $1.13 billion in web proceeds.

It additionally bought 1.2 million shares of its Sequence A Perpetual Most popular Inventory, buying and selling below the ticker STRC, elevating an extra $119.1 million.

This aggressive financing pushed Technique’s complete BTC holdings to a staggering 687,410 BTC.

Whereas the most recent buy carried a mean worth of $91,519 per Bitcoin, the agency’s total price foundation stays a stable $75,355.

Collectively, these figures reinforce Technique’s Bitcoin Normal method, one which has been influencing varied firms since 2020.

Inventory stress continues

Nevertheless, the larger image reveals a stark divergence between the underlying asset and the corporate’s inventory efficiency.

Whereas Bitcoin has maintained its grip on the $92,000 stage, trading at $92,118.27 at press time, MSTR inventory was testing exhausting waters. 

After reaching a peak of $455.90 in July 2025, MSTR has faced a chronic decline and was buying and selling close to $162.23.

Supply: BitcoinTreasuries.Internet

The 60% retracement from its highs signifies that the “Saylor Premium” is being examined by the market. 

Regardless of this sustained downward stress, there are early indicators of a brief‑time period rebound, with the inventory rising 4.90%, in accordance with Google Finance information.

Extra BTC purchases

Technique’s newest Bitcoin buy got here after the agency’s holdings reached precisely 673,783 BTC on the fifth of January 2026. 

Including to the momentum, founder Saylor additional stirred the group with a cryptic two-word publish on X, stating, 

“Large Orange.”

As anticipated, the publish bolstered the corporate’s positioning because the undisputed heavyweight of the Bitcoin Normal period.

Closing Ideas

• The top of 2025 marked a recalibration, enabling Technique to reset earlier than deploying capital at an unprecedented scale.
• Not like ETFs, Technique internalizes volatility, absorbing worth swings whereas steadily increasing its share of Bitcoin provide.