Strategy Inc (MSTR) shares climbed Wednesday alongside a broader rally in crypto-linked stocks after Bitcoin (BTC) bounced back above $92,000. The move signals renewed confidence in digital assets as regulatory sentiment continues to shift.
Saylor's Big Bitcoin Claims
Strategy executive chair Michael Saylor made waves Wednesday with some eye-popping comparisons about Bitcoin's energy footprint. Speaking at a Binance Blockchain Week event, he claimed the network now consumes more energy than the U.S. Navy and even surpasses the combined infrastructure of Microsoft and Alphabet.
Saylor argued that Bitcoin's transformation from speculative asset to what he calls "digital capital" accelerated dramatically when President Donald Trump embraced the role of "Bitcoin president" and appointed crypto-friendly officials across government agencies. He specifically highlighted Treasury Secretary Scott Bessent and SEC chair Paul Atkins as key figures shaping a regulatory framework that welcomes digital assets.
The most surprising shift, according to Saylor, came from the banking industry. He described banks as historically "hostile" toward crypto, but within the past year, major firms including BNY Mellon, Citigroup, JPMorgan Chase, Wells Fargo, Charles Schwab and Bank of America have pivoted from restrictive policies to offering active custody and lending services.
"Eight of the top ten banks now engage in crypto lending," Saylor noted, calling it a complete reversal from previous regulatory and supervisory attitudes.
He likened Bitcoin's infrastructure to that of large states and corporations, asserting the network currently uses 24 gigawatts of power—roughly equivalent to 24 nuclear reactors.
Strategy Doubles Down on Accumulation
Strategy CEO Fong Lee reinforced the company's long-term Bitcoin commitment in an interview with Yahoo Finance, emphasizing that selling Bitcoin remains a last resort for the firm.
"We don't trade Bitcoin. We accumulate it. Price agnostic. Strategy is an investor, not a trader," Lee stated.
Technical Picture Shows Bearish Trend
From a technical standpoint, Strategy stock is currently trading about 30% below its 50-day moving average and roughly 44.1% below its 200-day moving average. This considerable gap from both indicators points to a longer-term bearish trend, as the stock has struggled to maintain upward momentum.
Wednesday's trading volume stood out at 16.7 million shares, suggesting heightened investor interest. High volume often precedes significant price movements and could signal a potential sentiment shift as the stock attempts to recover from recent lows.
Price Action: Strategy shares were up 2.01% at $185.02 at the time of publication Wednesday.