Strategy vs Bitcoin
Strategy shares moved +58.9% over 30 trading days while Bitcoin moved +25.9%. The extra move was +33.0 points.
This page separates Bitcoin's price move from the extra movement in Strategy shares, then checks company value, coin value, dilution and the historical relationship.
BTC
MSTR
one coin move, a different share move
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Where did the extra move come from?
Strategy shares do not equal a fixed amount of Bitcoin. Financing, share issuance, debt, preferred stock and changing enthusiasm all sit between the coin and the share.
| Window | Strategy | Bitcoin | Strategy minus Bitcoin |
|---|---|---|---|
| 1 session | +16.4% | +5.9% | +10.5% |
| 7 sessions | +16.0% | +3.4% | +12.6% |
| 30 sessions | +58.9% | +25.9% | +33.0% |
Strategy shares moved +58.9% over 30 trading days while Bitcoin moved +25.9%. The extra move was +33.0 points.
Is the company value above its Bitcoin value?
Read the ratio as a comparison only. It is not a clean premium and it does not remove every claim ahead of common shareholders.
The current equity-to-Bitcoin value ratio is 0.89× versus a two-year median of 1.11×.