Key Takeaways

Why is MSTR’s 28th BTC buy just the start?

With Q4 underway, the stock is set to ramp up BTC stacking, potentially pushing 2025 buys close to 40.

How’s the stock vs. BTC looking?

MSTR’s down from its peak, but the BTC stash is solid — 638k coins with $27 billion+ in paper gains.

Michael Saylor’s at it again. Strategy (formery MicrosStrategy) is gearing up for its 28th Bitcoin [BTC] buy of the year, already 58% ahead of last year’s pace.

On the charts, the stock’s taken a hit, down roughly 120% from its $450 peak.

However, the Nasdaq Composite Index (COMP) is ripping. It is up 14.66% YTD, hitting 22,141 all-time high, with rate-cut vibes fueling risk-on flows. In this context, is MSTR just warming up for its Q4 BTC stacking spree?

MSTR’s Bitcoin accumulation marches on despite pain

Macro volatilty is screaming on the MSTR chart.

Last year, MSTR ripped 358%, fueled by 17 BTC buys, stacking the treasury to 446k BTC ($27.2 billion). Fast-forward to 2025, ROI is just 14% YTD, but the BTC stash has more than doubled to 638,460 ($46.17 billion).

In essence, macro swings have kept the stock in check, but the BTC stack remains untouchable. It shows traders are cautious on equities, while MSTR stays all-in on Bitcoin.

And it looks like this “strategy” is paying off. 

With 638k Bitcoin in the treasury at a cost basis of $72,350 per coin, MSTR is now sitting on roughly $27.23 billion in unrealized profit. That’s a solid 59% paper gain on the stack, keeping the bull

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Author: Ritika Gupta