Historical replay · MSTRB/USD
Strategy's Record Quarter: −12% in 18 Hours (October 2026)
Tokenised Strategy fell 12% from $141.73 to $124.66 on October 29–30, 2026, despite record quarterly earnings of $44.75 a share, as bitcoin slid to a six-week low after the Binance hack. Replay a bitcoin proxy trading the coin, not its own results.
MSTRB is the Binance token that tracks Strategy, the company that holds more bitcoin than any other listed firm: 848,517 coins as of October 25, 2026. Its shares behave like a leveraged bet on bitcoin, which makes its earnings unusual. On Thursday, October 29, the token traded quietly between $139.06 and $144.91 during the US session and ended the 19:00 UTC hour, just before the close, at $141.73.
The results arrived after the close, and on paper they were spectacular. Strategy reported diluted earnings of $44.75 a share for the third quarter, against a consensus of $21.50, and operating income of $21 billion, almost all of it a $20.91 billion gain on its bitcoin as the coin rose 43% in the quarter. Revenue from its software business fell 2.5% to $125.43 million, below forecasts, and the company said it had bought 7,218 bitcoin and sold 5,552 during the quarter. None of that mattered much. The token's 20:00 hour fell 3.19% to $137.17, and the selling followed bitcoin, which on Binance lost 2.47% in that hour as the exchange's security incident began.
The night belonged to the crypto market. As Binance suspended withdrawals and bitcoin slid toward $76,500, the token fell 1.83% in the 23:00 UTC hour to $133.83 and reached $131.88 at 01:00 UTC on Friday, with hourly volume rising to $3 million to $4 million, several times Thursday's pace. A bounce to $136.87 in the Asian morning faded through the European session, to $132.12 by 11:00 UTC.
The US open brought the low. The 13:00 UTC hour, which includes the opening bell at 13:30, plunged to $124.66, 12% below Thursday's close, on $4.5 million, the busiest hour of the replay, as the Nasdaq fell 2.86% and bitcoin printed its post-hack low of $76,325.98. The token recovered half of the drop within two hours, to $133.72, slipped back to $128.24 late in the afternoon and ended the replay at $131.23, 7.4% below where it started. A record quarter does not move a company whose value is mostly bitcoin; the coin does, with leverage, and the profit itself was the accounting value of last quarter's bitcoin rally.