Strategy (MSTR) Stock Jumps 5% After $747M Institutional Buy and Bitcoin Crown Reclaimed

TLDR

• Strategy stock rose more than 5% in early Wednesday trading
• Capital Group bought 4.32 million shares worth ~$747M, bringing its total holding to $1.78B
• Strategy reclaimed the top Bitcoin holding spot from BlackRock’s IBIT for the first time since Q2 2024
• Strategy now holds 815,061 Bitcoin after a $2.54B purchase of 34,160 coins
• Cantor Fitzgerald raised its price target on MSTR to $212, maintaining an Overweight rating

Strategy stock climbed more than 5% in early Wednesday trading, fueled by a large institutional purchase and a key development in its Bitcoin accumulation strategy.

Strategy Inc, MSTR

Capital Group, through its American Funds Fundamental Investors fund, picked up 4.32 million Strategy shares in a transaction worth roughly $747 million. That brings Capital Group’s total position to 10.33 million shares, now valued at around $1.78 billion.

The move is one of the larger institutional bets placed on MSTR in recent months.

Strategy also crossed a milestone that Bitcoin watchers had been eyeing. The company has surpassed BlackRock’s iShares Bitcoin Trust (IBIT) in total Bitcoin holdings — the first time it has held that lead since Q2 2024.

Bitcoin Holdings Race

Following its latest purchase of 34,160 Bitcoin for $2.54 billion, Strategy’s total stash stands at 815,061 coins. IBIT held approximately 806,178 coins as of April 20.

That latest purchase is Strategy’s largest single Bitcoin acquisition since November 2024. To fund it, the company sold $2.54 billion in securities, including over 21.7 million shares of its STRC preferred stock and around 2.16 million shares of MSTR.

IBIT had grown quickly into one of the most successful Bitcoin ETFs since its launch. Strategy’s return to the top of the holdings table shows just how aggressively it has been stacking.

The stock had already been on a run before Wednesday. MSTR is up 24% over the past week, though it remains down 43% over the past six months.

Cantor Raises Price Target

Cantor Fitzgerald raised its price target on MSTR to $212 from $192 on April 21, while keeping an Overweight rating on the stock. At the time, MSTR was trading at around $170.81.

The firm said investor attention is shifting toward forward-looking Bitcoin considerations ahead of Strategy’s Q1 fiscal 2026 earnings, scheduled for May 2 after the market close.

Cantor noted that while Strategy was not profitable over the last twelve months, analysts expect it to turn profitable this year.

One topic that came up during the Q4 earnings call — Bitcoin’s long-term quantum computing risk — remains in focus. A few Bitcoin improvement proposals have surfaced, but Cantor said substantial work remains before the protocol reaches a quantum-resistant framework.

On the balance sheet side, Cantor said Strategy appears well-positioned to handle rising interest obligations from its increased STRC issuance. The company carries a current ratio of 5.62, with liquid assets comfortably ahead of short-term obligations.

TipRanks data shows MSTR holds a Strong Buy consensus rating, with an average analyst price target of $281.25 — implying potential upside of around 71% from recent levels.

Strategy’s Q1 2026 earnings are due May 2 after the close.

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