Strategy Shares Soar 12% as Bitcoin Nears $70,000

Strategy shares rose by 12.15% on August 19 as Bitcoin neared $70,000, sending Michael Saylor's investment firm back above the $100 mark.

MSTR stock opened at $94.54 and finished above $100, with 33.85 million shares changing hands during the session. The stock touched $106.90 before settling near $103.76, while Bitcoin gained 5.59% and briefly moved from below $65,000 to nearly $70,000.

The rebound quickly lifted MSTR because Strategy is closely tied to Bitcoin. Its 840,447 BTC holdings make the stock unusually sensitive to cryptocurrency moves, giving equity investors indirect Bitcoin exposure while also amplifying gains and losses.

Saylor warned shareholders that they may need a time horizon of as long as 10 years as Strategy continues using complex financing tools around its Bitcoin treasury. The company sold 1,690 BTC for $108.6 million between August 3 and August 9, using the proceeds to repurchase STRC preferred shares.