The price of the MSTR is up about 9.5% year to date, putting it ahead of the Nasdaq and S&P 500, while Bitcoin, which supports its treasury, is down 13%.
Strategy’s MSTR stock snapped a nine-month losing streak in April, rising 33% as Bitcoin (BTC) rose nearly 12% in the same month, according to data shared by market commentator Mark Harvey on X.
The rebound is focusing new attention on whether investors still treat Michael Saylor’s firm as a leveraged bitcoin proxy, even after a sometimes notoriously difficult period for the cryptocurrency.
The line needs to end
And the numbers on the losing streak were ugly, starting in mid-2025 and continuing through March of this year. July He falls 1%, August fell 17%, and September lost 4%. The story was the same in October, which fell by 16%, and November, which recorded a collapse of 34%.
December ended the year down 14%, with losses continuing into 2026, with January seeing a 2% decline and another 14% decline in February, ending with a 4% loss in March.
For its part, Bitcoin hasn’t performed particularly well over the same period either, falling more than 6% in August 2025, before rising 5% in September. It then fell by about 4% in October, then fell by about 18% in November, then fell by about 3% in December.
The major cryptocurrency posted further losses in the first two months of 2026, before a slight gain of around 2% in March snapped that five-month red streak.
Looking at the data, while BTC’s losses have been significant, MSTR’s losses have been consistently steeper, which characterizes the inflated relationship between the stock and the underlying asset. April reverse Which. Bitcoin rose nearly 12% during the month, finishing near $76,000, while Strategy stock more than doubled that return by 33%.
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At the time of writing, Bitcoin is up about 13% over the past 30 days per CoinGecko but is down about 1% over the week, trading at around $77,000 earlier. dipping Below $75,000 after the Federal Reserve’s decision to keep interest rates steady.
How the strategy stacks up this year
Comparing broader performance to 2026 is where the strategy’s run in April becomes particularly notable. Tracking Harvey for a year now puts The MSTR is up about 9.5% for the year, putting it ahead of Nvidia, Block, Nasdaq, gold, and the S&P 500.
Bitcoin itself is down roughly 13% year to date, meaning the strategy has been able to outperform the assets supporting its treasury during this time frame.
The rest of the cryptocurrency-related stocks on Harvey’s list had a rough year in 2026. Twenty One Capital fell about 7%, Coinbase lost 17%, and Metaplanet fell 19%. In addition, the price of BitMine fell by 23%, and the price of Ethereum (ETH) fell by 25%.
Furthermore, companies affiliated with US President Donald Trump’s family, including Trump Media and US Bitcoin, have also performed poorly in 2026 so far, with the former down 31% and the latter losing 32%.
The oil that occupies the top of Harvey’s table is oil, which rose by 80% during the year. Ten-year Treasury yields also rose by about 6%.
