Strategy (MSTR) shares rose 7% today as Bitcoin and the broader market rallied after the midterm elections, while BitMine (BMNR) rose 8%. Bitcoin was up about 3.5% by midday, so Strategy's move was roughly twice as big, and its bitcoin was worth 1.6x its common book value at end-June. The company holds 849,327 bitcoin at an average cost of $75,451 a coin, and even today's rally only takes Bitcoin to around $80,500, leaving a thin cushion. Strategy raised about $21 billion from share sales this year, and CEO Phong Le put its multiple at 1.15x against management's 1.22x break-even. The author says leverage is working for shareholders today but wants the premium restored before calling the cycle healthy, and notes that MSCI's index decision on dropped companies is next.
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bitcoincryptoStrategymidterm elections
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Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/03/2026 | 77,453.86 |
| Change that session | +0.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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