Strategy Buys Bitcoin for 100th Time: What’s Next for MSTR, BTC?

Key Insights

• Strategy has acquired 592 BTC for the 100th time for $39.8 million at $67,286 per Bitcoin.
• Jane Street now holds 951,187 MSTR shares worth $124 million, a 473% increase in just one quarter.
• MSTR/IBIT declined in H2 2025, front-running BTC, but now it’s been stable since December. But is MSTR/IBIT front-running Bitcoin’s bottom here?

The Strategy [MSTR] stock, formerly known as MicroStrategy, has continued to increase its Bitcoin [BTC] holdings following its latest acquisition. MSTR stock remains the largest BTC treasury, thus, its activities greatly influenced its price and that of BTC.

The stock has been in a free fall over the past six months. However, Michael Saylor was not scared to buy more BTC at the current discount, increasing their Bitcoin exposure. This activity was a double-edged sword for MSTR stock, but Saylor had assured that they had enough capital to cover BTC price declines.

More institutions are also increasing their BTC exposure through MSTR stock as BlackRock’s IBIT outperformed it. Will the MSTR/IBIT flatness front-run Bitcoin’s bottom?

Strategy Stock News: MSTR Stock Buys BTC for 100th Time

Getting into the key details of this activity, Michael Saylor reported that MSTR stock had acquired 592 BTC worth $39.8 million at an average price of $67,286. This was the hundredth time MSTR purchased Bitcoin since they started their BTC treasury.

As a result, Strategy’s holdings hit 717,722 BTC valued at $46.65 billion per the current price of the crypto. These tokens were acquired for a fee of $54.56 billion at an average price of $76,020. The result meant that the MSTR stock holdings were facing a loss of about $8 billion.

During this time, BlackRock was liquidating a lot of its Bitcoin holdings, suggesting a further decline. They made multiple transactions in the region of $20 million for their Bitcoin and Ethereum (ETH) ETFs, sending them to Coinbase Prime. These transactions suggested potential offloading or custody purposes.

However, the strategies of these firms differed, as MSTR was focused on long-term accumulation while BlackRock actively traded their assets. Hence, more institutions were embracing MSTR stock for BTC exposure.

Jane Street Adds More MSTR Stock Shares

As such, Jane Street acquired more MSTR shares, indicating its indirect backing of Bitcoin. Participants have repeatedly accused the institution of manipulating Bitcoin’s price daily at 10AM. That explained their strategic buying of MSTR stock price, as it is directly correlated to BTC price.

In fact, Jane Street added 785,224 MSTR shares, bringing their total to 951,187. The total shares were valued at $124 million, a 473% increase in just one quarter.

Such accumulation meant institutions engineered volatility to accumulate, which was catastrophic for the crowd. Bears were dumping BTC, while smart money increased leverage and institutions positioned. This indicated that institutions no longer saw the risk in MSTR stock even as both the stock and BTC price declined.

Is the MSTR/IBIT Pair Front-Running Bitcoin’s Price Bottom Here?

Looking at the chart of MSTR/IBIT and BTC/USD simultaneously, it hinted at a potential recovery in both MSTR and BTC.

In the second half of 2025, MSTR/IBIT valuation declined from around 6.80 to 3. Consequently, the price of BTC/USD followed suit, dropping from $116K to $65K. This meant that the former front-ran BTC.

Currently, MSTR/IBIT has formed a potential bottom and has made the first higher high on the daily chart. On the other hand, the BTC/USD pair is potentially emulating it, as a similar pattern is forming.

Altogether, MSTR’s stock price was directly correlated to Bitcoin. Hence, a spike in BTC price would be positive for the Strategy stock price, while the activities of the firm hinted at how BTC could potentially perform.

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