Strategy Inc’s shares surged 10.9% in pre-market trading on Friday, climbing from Thursday’s close of $112.39 to $124.60. The move followed Bitcoin’s breakout above $70,000, its highest level since early June 2026, which triggered an 8% single-day gain in the cryptocurrency.
The stock’s advance coincided with approximately $1.44 billion in forced short liquidations across crypto markets, according to market data. Strategy’s variable-rate Series A preferred stock was repurchased at an average price of $86.52, with the company targeting a $100 trading level supported by a 12% dividend yield.
U.S. Treasury bond operations also provided support, as the department announced plans to at least double its long-term bond buyback operations to a minimum of $4 billion per operation. Broader equity indices showed modest gains in pre-market trading, with the S&P 500 up 0.3%, the Dow Jones Industrial Average up 0.3%, and the Nasdaq Composite up 0.5%.
Analysts at Clear Street, Benchmark, and B. Riley maintained “Buy” ratings on Strategy’s stock despite trimming price targets following the company’s Q2 results. Consensus targets remain well above current levels, reflecting continued confidence in the stock’s long-term prospects.
