LIVE MARKETS-Wall Street shrugs as Saylor's Strategy keeps stacking bitcoin

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WALL STREET SHRUGS AS SAYLOR'S STRATEGY KEEPS STACKING BITCOIN

Wall Street's reaction to billionaire Michael Saylor's Strategy's piling on more bitcoin into its coffers has tempered somewhat in recent times, compared to its initial purchase announcements more than five years ago.

Strategy MSTR.O - which started out as software company MicroStrategy, but pivoted to bitcoin investing in 2020 - saw its shares surge 9% in a single day in August 2020 when the company announced a bitcoin BTC= purchase for the first time.

Its shares surged another 9% in a single trading session in September 2020 following another bitcoin purchase announcement.

However, the market's reaction to its bitcoin purchase announcements has been lukewarm of late, with Monday's announcement of a $1.25 billion purchase only seeing the stock rise around 3%, rebounding a bit after a 5.7% drop in the previous session.

Since 2020, the company has recorded more than 40 instances of purchasing bitcoin, according to Reuters calculations, with more than 20 announcements in 2025 alone.

Crypto-linked stocks are often susceptible to price gyrations tracking the moves in the more volatile crypto market, with Strategy, which is the world's biggest corporate hoarder of bitcoin, being no exception.

Digital asset treasury companies, often called DATCOs, surged in popularity in 2025 as a wave of firms began holding crypto tokens such as bitcoin and ether as their main treasury assets, lifting prices and giving investors a proxy for direct exposure.

As of Monday, Strategy holds 687,410 bitcoin, worth more than $62.5 billion, while its stock price has fallen more than 50% in the last year.

Strategy shares ran into turbulence in 2025 after global index provider MSCI raised concerns about the presence of digital-asset treasury companies in its benchmarks. The stock rallied in January after MSCI shelved such plans.

(Shashwat Chauhan)

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