Strategy (MSTR) Back In The Bitcoin Buy Cycle With Valuation In Focus

Strategy (MSTR) is back in focus after resuming large scale Bitcoin purchases following a 10 week pause, coinciding with fresh Bitcoin focused research coverage that has sharpened attention on the stock’s crypto driven profile.

At a latest share price of $142.8, Strategy’s recent move to resume large Bitcoin purchases and announce new AI partnerships with Google Cloud and Carahsoft has coincided with a sharp 30 day share price return of 45.17% and a 3 year total shareholder return above 3x, even though the 1 year total shareholder return is down 57.48% and year to date share price return is down 9.14%. This suggests that momentum has picked up again after a tougher stretch for longer term holders.

Scan 21 cryptocurrency and blockchain stocks, which is hand picked for investors who want exposure to moves like Strategy's Bitcoin linked surge while keeping the focus on listed companies instead of tokens.

After a 45.17% jump in 30 days, yet a 1-year return that is still down 57.48%, strategy now forces a sharper question: Is the major upside already in the rearview mirror or still ahead from here?

Preferred Price to Book Multiple of 1.8x: Is it justified for Strategy?

One clear reference point for Strategy right now is its P/B ratio of 1.8x compared with both its software peers and the wider US Software industry. This sits alongside a recent share price of $142.8 and a business that is still loss making while heavily linked to Bitcoin movements.