Strategy (NASDAQ: MSTR), the publicly traded firm that maintains the largest corporate treasury of Bitcoin, is approaching a technical development on its share-price chart that mirrors a signal Bitcoin itself produced several weeks earlier.
The pattern under discussion is a golden cross, defined as the point at which a security’s 50-day moving average of price moves above its 200-day moving average.
Many technical traders view this transition as evidence that shorter-term momentum has begun to outpace the longer-term trend, a configuration that can sometimes precede a sustained period of higher prices.
The company holds Bitcoin valued at approximately $69.81 billion. Observers monitoring the stock’s moving averages have indicated that the crossover could complete as soon as Monday.
Strategy first began acquiring Bitcoin for its balance sheet in August 2020. In the years that followed, the shares generated two earlier golden crosses, and substantial rallies accompanied both of them.
The initial crossover occurred on September 15, 2020, when the stock traded near $15.57.
By February 2021 the shares had advanced to $127.29, a gain of roughly 717 percent.
A death cross—the reverse formation in which the 50-day average drops below the 200-day average—later appeared in January 2022.
Even at that later date the stock stood at $46.83, still three times the price recorded on the day the original bullish signal emerged.
A second golden cross took place on March 2, 2023, with the shares at $25.29.
The stock subsequently climbed to a high of $473.83 in November 2024, representing an increase of 1,774 percent from the crossover level.
When a death cross formed in October 2025, the shares were trading at $328.40—still 1,199 percent above the price at which the earlier bullish signal had appeared.
Despite those large subsequent advances, the historical reliability of the golden cross for Strategy has been limited. Since 1999 the shares have produced 19 such crossovers.
In 11 of those instances the stock was higher three months later; in only 10 cases was it higher after twelve months.
That equates to an approximate 50 percent success rate over a one-year horizon.
The median return across those twelve-month periods was just 3.3 percent.
The two weakest outcomes, following crossovers in 2001 and 2007, each resulted in a subsequent decline of 61 percent.
Bitcoin itself confirmed a golden cross on September 8.
Since that date the cryptocurrency has risen nearly 5 percent to around $82,000, extending a recovery that began from lows under $60,000 in July. Earlier in the current month Bitcoin briefly exceeded $87,000.
Whether Strategy’s shares will follow a comparable trajectory remains an open question.
The golden cross is a standard technical indicator that many market participants track, yet the mixed longer-term record for the stock shows that outcomes after the signal have varied widely in both size and duration. Participants following the name will be watching to see whether the averages complete the crossover and, if they do, whether price action subsequently confirms a durable shift in momentum.
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