Strategy Breaks Above $135: This Time It’s Not “BTC Rose, So MSTR Is Riding Along”

Strategy’s share price broke above $135, and this move has indeed been quite fierce. Recently, MSTR surged from around $90 to nearly $140, a remarkably large short-term gain, while Bitcoin remains the core engine behind it.

But in my view, what is worth watching this time is not that “$135 has been reached,” but that MSTR is regaining its market risk premium.

Strategy is essentially no longer a software company in the traditional sense. It is more like a “stock-market BTC amplifier.” As of August 27, the company held 840,447 BTC, accounting for approximately 4% of Bitcoin’s total supply. When BTC rises, the market is often willing to assign MSTR a higher valuation; when BTC corrects, it can also be hit by twice—or even greater—emotional pressure.

So $135 is more like a psychological threshold than a finish line.

More interestingly, the company recently raised approximately $2 billion by selling MSTR shares, while establishing a cash pool of approximately $1.59 billion, which can be used in the future to buy BTC, repurchase shares, pay dividends, or make other capital arrangements.

My view is simple: Holding above $135 is more important than breaking above $135.

If BTC remains strong, MSTR may continue to enjoy the dual benefits of “BTC appreciation + valuation expansion”; but if BTC suddenly reverses, MSTR may give the word “amplifier” a very vivid demonstration.

So if you are buying MSTR now, don’t just ask, “How much further can it rise?” You also need to ask: If BTC sneezes, can my heart take it?#Strategy股价突破135美元