Strategy Inc, also known as MicroStrategy, has staged a sharp rebound in its stock price since early February. After forming a local low on February 5, the MSTR stock price has climbed nearly 33% in just a few sessions. The move followed both a recovery in Bitcoin and renewed big money interest in MicroStrategy’s Bitcoin-linked business model championed by Michael Saylor.

This bounce in the MicroStrategy stock price looks strong on the surface. But context matters. The key question is whether this rally reflects lasting confidence in Strategy’s long-term Bitcoin strategy or another temporary surge tied to crypto sentiment.

Strategy stock’s long-term price behavior remains tightly linked to Bitcoin.

After Bitcoin…