Strategy (MSTR) Bitcoin Correlation

Name: Strategy (MSTR) correlation to Bitcoin
Creator: Trade The Cycle

Strategy (MSTR) closed at $123 with a correlation to bitcoin of 0.75, which is strong positive correlation. That figure is measured on 90 days of daily returns as of Aug 26, 2026, and it moves as the window rolls forward.

Strategy converted its corporate treasury into bitcoin from 2020 and funds further purchases through equity and convertible debt, so its balance sheet is largely a leveraged bitcoin position with a software business attached.

Correlation measures whether two prices moved together, not whether one caused the other and not by how much. A company can hold bitcoin and still track it loosely, and a company that holds none can track it closely because both respond to the same conditions.