Strategy Inc., the company formerly known as MicroStrategy, now trades more shares per day than Berkshire Hathaway. The crossover began in late 2025 and has held into 2026, fueled by the firm's more than 800,000 BTC treasury and the trading activity that treasury attracts.
Strategy Inc. has overtaken Berkshire Hathaway in daily trading volume, turning a software company that pivoted to buying Bitcoin into one of Wall Street's most actively traded stocks. The crossover first occurred in late December 2025 and has persisted into 2026.
A treasury built for turnover
MSTR now frequently ranks 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 $4.4 billion in daily turnover and landing as the 10th-most active US equity. That volume now outpaces not just Berkshire Hathaway but also Goldman Sachs and Morgan Stanley, with MSTR ranking between the 25th and 27th most-traded US equity at various points.
The scale behind the float is what makes the comparison possible. By mid-2026, Strategy held more than 800,000 BTC on its balance sheet — roughly 4% of all the Bitcoin that will ever exist, concentrated in a single publicly traded company. The firm built that position through aggressive capital raises, including billions raised through preferred equity offerings designed specifically to fund additional Bitcoin purchases.
Why the volume keeps climbing
Several overlapping forces drive the turnover. First, the stock's tight correlation with Bitcoin means it attracts activity whenever crypto markets move. Second, Strategy's capital structure amplifies that effect: the equity and debt instruments raised to buy Bitcoin increase the float and give more traders access to shares.
Short interest adds another layer, since bearish bets require borrowing and returning shares on top of ordinary buying and selling. Index and ETF inclusion compounds it further — as MSTR's market cap and volume have grown, it has become a core holding in several thematic funds, creating a cycle where passive flows add to the volume generated by active traders.
Berkshire Hathaway was built to be a stock investors buy and forget. Strategy, under Michael Saylor, was built to be one they can't stop watching — and the trading volume now reflects that difference.
Source: Crypto Briefing
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