MSTR Stock Jumps 27% as Bitcoin Rally Fuels $156 Target

Strategy (NASDAQ: MSTR) stock climbed 6% on August 21 to around $118, extending its five-session gain to 27% since August 17. The sharp rally comes as improving cryptocurrency market sentiment lifts Bitcoin and crypto-related stocks.

The total cryptocurrency market capitalization has risen from about $2.1 trillion on August 19 to $2.5 trillion. Bitcoin recently pushed above $79,000 for the first time since May 2026, while Ethereum touched $2,400. The rebound has benefited companies offering investors indirect exposure to digital assets.

Other crypto stocks also advanced, with Coinbase (COIN) gaining 6.81% to approximately $184 and Circle (CRCL) rising about $7 to $89.

Strategy's massive Bitcoin portfolio has also returned to profitability. The company holds 849,447 BTC purchased at an average price of $75,653 per coin. With Bitcoin trading near $77,200, the holdings were sitting on an estimated $1.3 billion unrealized profit. That marks a major turnaround from June, when Strategy faced roughly $10 billion in unrealized Bitcoin losses as BTC fell toward $61,000.

Analyst Samson Mow suggested further Bitcoin gains could support MSTR as traders who previously shorted the stock unwind bearish positions, potentially creating additional buying pressure.

Meanwhile, Strategy's STRC preferred stock gained 0.73% to $95.95, leaving it about 4.5% below its $100 par value. Strategy CEO Phong Le previously indicated that STRC would need to reach roughly $99 to $100 before the company resumes Bitcoin purchases.

From a technical perspective, MSTR stock is approaching resistance at its 100-day exponential moving average near $122. A sustained close above that level could open the door to the 200-day EMA around $156, a level the shares have not traded above since October 2025.

However, failure to maintain the rally could send MSTR toward its 50-day EMA near $116. The relative strength index stands at 66, indicating bullish momentum while remaining below traditionally overbought territory.