At the time of writing, Strategy (MSTR) trades at $328.85 while Bitcoin trades at $112,415 — a price ratio of roughly 342×.
If Bitcoin reaches $1,000,000, a simple linear ratio would imply an MSTR price around $2,924 (assuming today’s relationship holds).
Do you think Strategy will trade above or below $2,924 when Bitcoin hits $1,000,000?
Strategy vs. Bitcoin: which will outperform?
Strategy (MSTR) is often seen as a leveraged proxy on Bitcoin because the company holds a large BTC treasury. As a result, the stock can sometimes move more than Bitcoin in both directions. But this relationship is not fixed: equity valuation also reflects operating results, share issuance or buybacks, premiums/discounts, and broader market conditions.
The ratio logic behind this poll
At the time of writing, Bitcoin trades around $112,415 and Strategy around $328.85 — a ratio of roughly 342×. If Bitcoin were to reach $1,000,000, a simple linear projection (assuming today’s ratio holds) would imply an MSTR price near $2,924. Our poll asks whether you think Strategy will trade above or below that level when BTC hits $1M.
What could drive outperformance?
- BTC treasury dynamics: changes in holdings per share, new purchases or sales.
- Capital structure: dilution, convertible debt, or buybacks can shift per-share exposure.
- Business fundamentals: software revenue, margins, cash flow, and guidance.
- Market regime: liquidity, risk appetite, and regulation can amplify or dampen moves.
Cast your vote
Do you expect Strategy to outperform Bitcoin, underperform, or track it closely? Vote now and check back to see where the community stands.
Disclaimer: This content is for informational purposes only and does not constitute financial advice.
