SBI Securities Cuts Stake in Strategy Inc. Amid Bitcoin Volatility

Tokyo, Japan — SBI Securities Co. Ltd. has sold 2,589 shares of Strategy Inc. (NASDAQ: MSTR), reducing its stake in the company during the second quarter of 2025. The sale, detailed in the firm’s latest 13F-HR filing with the U.S. Securities and Exchange Commission for the period ending June 30, shows that SBI Securities now holds 34,061 shares of MSTR.

The reduction in shares comes amid a turbulent period for Bitcoin, which is currently trading near its 50-week simple moving average. Analysts, including Ted (@TedPillows), have noted that MicroStrategy recently fell below this average and has struggled to reclaim it. There are concerns that if Bitcoin follows this pattern, it might also drop below its average.

As of now, Strategy Inc. remains the largest corporate holder of Bitcoin, owning over 641,000 BTC, valued at approximately $46 billion at current market prices. The reported sale reflects a routine rebalancing of SBI’s portfolio rather than any direct company insight.

While Bitcoin trends above its 50-week average, some analysts warn of potential risks. Strategy Inc. shares have experienced fluctuations, recently trading at about $211.35, close to its 52-week low. Market analysts have discussed whether Bitcoin’s established four-year cycle is losing its influence, as sentiment among traders remains negative.

Investor preferences appear to shift as well, moving towards direct Bitcoin exposure through ETFs instead of leveraged corporate structures like Strategy Inc. This has led to a situation where the market cap of Strategy Inc. briefly fell below the value of its Bitcoin holdings, a rarity that reflects growing caution among investors.

Executive Vice President Shao Wei-Ming recently sold 2,600 shares for $581,535, continuing a pattern of significant share sales for personal financial planning purposes. Shao maintains a stake in the company through several preferred stock series.

Despite the uncertainty surrounding the market, Strategy Inc. aims to sustain its long-term Bitcoin acquisition strategy.