MSTR Stock Surges Past Bitcoin with 16.7% Gain in September

Strategy Inc.'s shares rose 16.71% over the past month to around $155.16 on September 30, outperforming Bitcoin's gain of 9.56% during the same period.

This means Strategy's stock jumped nearly twice as much as the cryptocurrency it holds on its balance sheet, making it one of the most closely watched publicly traded proxies for Bitcoin due to its large BTC holdings.

The company's use of equity issuance, debt, and preferred securities to finance Bitcoin purchases can amplify percentage moves in MSTR shares. While this leverage works in both directions, Strategy has outperformed Bitcoin during strong rallies but also fallen more sharply when investors become concerned about dilution or financing costs.