Strategy’s trading volume surpasses Berkshire Hathaway’s, marking a new era for Bitcoin proxy stocks

A software company that pivoted to hoarding Bitcoin now moves more shares per day than the investment vehicle built by the most famous investor alive. Strategy Inc., the company formerly known as MicroStrategy, has surpassed Berkshire Hathaway in daily trading volume, a development that would have sounded like satire five years ago. The crossover first occurred in late December 2025 and has persisted into 2026, with MSTR frequently ranking among the most actively traded stocks on US exchanges. On certain days in August 2026, the stock traded between 46 and 49 million shares, generating up to $4.4B in daily turnover and landing as the 10th-most active US equity. From enterprise software to Bitcoin treasury By mid-2026, Strategy held more than 800,000 BTC on its balance sheet. To put that in perspective, that’s roughly 4% of all the Bitcoin that will ever exist, concentrated in a single publicly traded company. The firm accumulated this position through a series of aggressive capital raises, including billions raised through preferred equity offerings designed specifically to fund additional Bitcoin purchases. The result is a stock that now outpaces not just Berkshire Hathaway but al...