SBI Securities cut 2,589 shares from its Strategy Inc. stake, new 13F data shows. Meanwhile, Bitcoin hovers at its 50-week average as MSTR slips to a small discount to its BTC holdings.
SBI Securities Cuts Strategy Inc. Stake by 2,589 Shares
SBI Securities Co. Ltd. reduced its exposure to Strategy Inc. (NASDAQ: MSTR) by selling 2,589 shares during the second quarter of 2025. The change appeared in the firm’s Form 13F-HR filed with the U.S. Securities and Exchange Commission for the period ending June 30, 2025.
According to the filing, SBI Securities now holds 34,061 MSTR shares after the sale. The update confirms that the Japanese brokerage adjusted its holdings while maintaining a sizable position in the company. Strategy Inc. remains the largest corporate holder of Bitcoin, owning more than 641,000 BTC, valued at roughly $46 billion at current prices.
The reported sale reflects a routine portfolio rebalance rather than a direct company disclosure.
Bitcoin tests weekly 50-SMA after MicroStrategy breach, analyst warns of repeat
Bitcoin briefly slipped below its 50-week simple moving average (SMA) last week and now trades just above it. Analyst Ted (@TedPillows) notes that MicroStrategy (MSTR) fell below the same trend marker in Q3 and has not reclaimed it since. He argues Bitcoin has often lagged MSTR by a few months since 2020, raising the risk that BTC could lose the level if the pattern repeats.
Bitcoin vs MSTR Weekly 50-SMA Comparison. Source: @TedPillows
The 50-SMA is a widely watched trend gauge on weekly charts. A decisive close below it can signal momentum loss, while holds above it keep the uptrend intact. Accordingly, traders will track the next weekly close and intraday retests of the average for confirmation.
Correlation does not imply causation; however, the MSTR/BTC relationship has rhymed at key turns in recent years. Until Bitcoin reclaims distance above the average, the market faces a binary setup: sustain the level and stabilize, or break below and invite deeper tests of support.
MSTR trades below BTC NAV ratio as analyst flags deeper discount
Meanwhile, Strategy Inc. (MSTR) slipped to a 0.99x “basic mNAV” reading on the company’s Bitcoin Strategy Tracker, indicating the stock’s market cap sits just under its implied BTC net asset value.
MSTR Basic mNAV – Market Cap vs BTC NAV. Source: Dr. Julian Hosp (X)
Analyst Dr. Julian Hosp highlighted the move and projected the ratio could fall toward 0.2 unless Chairman Michael Saylor sells Bitcoin to support the share price. His view remains a prediction, not company guidance.
The tracker’s “Market Cap vs BTC NAV” gauge compares MSTR’s equity value with the value of its reported Bitcoin holdings. Ratios below 1.0 signal a discount to the BTC stash, while readings above 1.0 imply a premium. The company has not issued a statement on the ratio change.
Source: https://coinpaper.com/12300/strategy-inc-micro-strategy-faces-bitcoin-pressure-after-sbi-sells-2-589-shares
