Strategy vs Bitcoin
Strategy shares moved +38.4% over 30 trading days while Bitcoin moved +23.1%. The extra move was +15.3 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 | -4.4% | -1.5% | -2.8% |
| 7 sessions | -0.6% | -2.3% | +1.6% |
| 30 sessions | +38.4% | +23.1% | +15.3% |
Strategy shares moved +38.4% over 30 trading days while Bitcoin moved +23.1%. The extra move was +15.3 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 0.80× versus a two-year median of 1.14×.