SBI Securities Cuts Strategy Inc. Stake Amid Bitcoin Market Pressure

NEW YORK, NY — SBI Securities Co. Ltd. has sold 2,589 shares of Strategy Inc. (NASDAQ: MSTR) during the second quarter of 2025, according to the company’s latest 13F-HR filing with the U.S. Securities and Exchange Commission. This regulatory update reveals that SBI Securities now holds 34,061 MSTR shares after the sale, indicating a strategic adjustment in their portfolio while still retaining a substantial position in the company.

Strategy Inc., known for being the largest corporate holder of Bitcoin, maintains over 641,000 BTC, valued at approximately $46 billion at current market prices. The reported sale reflects a routine portfolio rebalance, rather than a significant change in the company’s operational strategy.

Bitcoin briefly dipped below its 50-week simple moving average (SMA) last week but has since stabilized just above this key level. Analyst Ted (@TedPillows) pointed out that MicroStrategy (MSTR) has not reclaimed this SMA since Q3 and has historically lagged behind Bitcoin in market movements since 2020. This trend raises concerns among traders about Bitcoin’s ability to hold its position.

As traders closely monitor potential market shifts, the 50-SMA is seen as a critical indicator. A decisive close below could signal a loss in momentum, while remaining above could reinforce current market trends. The correlation between Bitcoin and MSTR has shown important patterns over recent years, with analysts suggesting that confirmation on the next weekly close might determine market direction.

Currently, MSTR’s stock has fallen to a 0.99x “basic mNAV” reading on the company’s Bitcoin Strategy Tracker, suggesting its market cap is just below its BTC net asset value. Analyst Dr. Julian Hosp has highlighted the ratio’s decline, warning it could drop to around 0.2 unless Chairman Michael Saylor takes action to stabilize the share price.

Despite the changes in MSTR’s market behavior, the company has yet to issue a statement regarding the ratio change. Such movements in the Bitcoin market and related stocks are raising questions about investor risk and overall sector stability as companies reassess their crypto holdings.