Trading volume in Strategy (MSTR) shares exploded Monday as the stock fell after the Nasdaq-listed firm announced a new dollar reserve and adjusted its full-year profit outlook.
More than 42.9 million shares changed hands, making it the busiest trading day since Dec. 20, 2024, according to TradingView data. The stock lost 3.25% to $171.42.
Strategy is the world's largest publicly listed bitcoin treasury asset firm, holding 650,000 BTC valued around $56 billion. The company started accumulating coins in 2020 to hedge against the dollar's declining purchasing power, as founder Michael Saylor said back then.
Since then, the company has sold preferred stock to fund more bitcoin purchases. On Monday, Strategy announced a $1.44 billion reserve to support dividend payments on the preferred stock and interest on its outstanding debt.
It also said it expects full-year earnings to range from a net loss of $5.5 billion to net income of $6.3 billion after the world's largest cryptocurrency slumped 30% from the record high it hit in October.
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