Strategy Inc continues to execute its ambitious expansion plan, even as its share price faces significant headwinds. The company, known as the largest public holder of Bitcoin, has initiated another major purchase of the cryptocurrency this week, reinforcing its core strategy despite a looming regulatory challenge and investor skepticism.
Management Executes “Buy the Dip” Strategy
In a bold move that underscores its confidence, Strategy Inc announced the acquisition of an additional 10,645 Bitcoin on Monday morning, at a cost of approximately $980.3 million. This marks the second consecutive week the firm has deployed around one billion dollars to bolster its digital asset reserves. The purchases were financed primarily through the sale of its own equity.
This aggressive buying spree coincides with a notable pullback in Bitcoin’s market value. After reaching highs above $126,000 in October, the cryptocurrency’s price has corrected and is now trading between $89,000 and $90,000. Strategy Inc’s latest investment brings its total holdings to a substantial 671,268 Bitcoin.
Index Inclusion: A Tale of Two Decisions
Investors received crucial news regarding the company’s standing in major indices. Strategy Inc has successfully retained its position in the prestigious Nasdaq 100 index. The confirmation came as part of the annual rebalancing and will take effect before market open on December 22, 2025. This listing is vital as it ensures continued automatic investment from numerous ETFs and funds that track the index.
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However, the company’s future in MSCI indices is less certain. The index provider is considering excluding companies whose balance sheets consist of more than 50% digital assets. Strategy Inc has formally objected to this potential change, labeling the possible exclusion in a letter as “discriminatory” and “arbitrary.” MSCI is expected to deliver its final decision in January 2026.
Share Price Performance Tells a Different Story
The company’s strategic moves have not been rewarded by the equity market in the near term. Shareholder sentiment appears negative, driven by concerns over share dilution from the equity sales used to fund Bitcoin purchases and the inherent volatility of the core asset.
The stock price reflects this pressure, having dropped to a new 52-week low of €137.90 yesterday. Since the start of the year, the shares have declined by more than 52%. Despite this severe market reaction, the management team remains committed to its fiscal year 2025 forecast, which is predicated on a Bitcoin price of $150,000 by year-end.
Key Dates on the Horizon
The coming weeks will be pivotal for Strategy Inc. The market will first focus on the implementation of the Nasdaq rebalancing on December 22. Shortly after, all eyes will turn to MSCI’s anticipated ruling in January. These events are likely to set the short-term direction for the stock before the company releases its fourth-quarter results at the end of January.
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