Strategy, the Bitcoin treasury company run by Michael Saylor, has overtaken JPMorgan in trading volume. MSTR is now the 19th most-traded stock in the US, even though JPMorgan's market value is far larger.
Strategy has overtaken JPMorgan in trading volume, which makes MSTR the 19th most-traded stock in the US. JPMorgan is a bank with a market value north of $950 billion, while Strategy is a company that mostly holds Bitcoin.
MSTR volume reaches 49 million shares
Strategy trades on the Nasdaq under the ticker MSTR and was formerly known as MicroStrategy. In mid-2026, the stock regularly moved between 15 and 25 million shares a day. On several days in August 2026, volume climbed to nearly 49 million shares.
The dollar value of that activity ranged from $1.5 billion to $3.9 billion. Yet 19th place is not the stock's high-water mark: on peak days in 2026, MSTR reached 10th place in trading volume among all US stocks.
A stock tied to Bitcoin's price
Strategy's market capitalization ranged from $38 billion to $50 billion over the period. The company has built more than 845,000 BTC in holdings, at an estimated acquisition cost exceeding $63 billion.
It funds those purchases by issuing stock, and it has raised over $5.6 billion through preferred share offerings alone, on top of other equity sales. As a result, the stock behaves less like a software company and more like a leveraged bet on Bitcoin's price.
MSTR's 30-day historical volatility hit around 64% in mid-2026. When Bitcoin moves, MSTR tends to move with it, and often further, so a stock that amplifies Bitcoin's gains will also amplify its drawdowns.
Source: Crypto Briefing
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