Tom Lee Says Michael Saylor-Led Strategy’s 35x Surge Wasn’t Just Bitcoin — Treasury Moves ‘Far More Significant’ Than Token Price Gain
Posted On July 18, 2025
Wall Street strategist Tom Lee said Thursday that the astronomical jump in Strategy Inc. (NASDAQ:MSTR) shares was due not just to the rise in Bitcoin (CRYPTO: BTC) but also to the financial maneuvers it adopted.
What happened: In an X thread, Lee highlighted how the stock of the Michael Saylor-led firm skyrocketed from $13 to over $450 after switching to a Bitcoin treasury strategy five years ago.
The Head of Research at Fundstrat said that out of the 35x spike, 11x was due to Bitcoin’s price surging from $11,000 to $118,000, while the treasury strategy contributed an additional 25x rise.
“Treasury strategy far more significant than token price gain,” Lee said.
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