
As Bitcoin strengthens, Strategy faces a test of relevance
What explains the growing disconnect between Bitcoin’s strength in 2025 and Strategy’s lagging stock, once the market’s favorite equity proxy for the asset? Summary Bitcoin hit record highs above $124,000 in 2025, yet Strategy Inc’s stock fell nearly 9% and trades one third below its 52-week high. The company holds about 629,000 BTC worth $72.5…