Strategy Inc.
Strategy Inc. price today and market data
What moves the MSTRc price?
MSTRc is not a memecoin and does not need a price prediction. It is designed to track one number, the share price of Strategy Inc. on Nasdaq, so the useful questions are what moves that stock and how faithfully the token follows it. This is not investment advice.
How the tracking works
- 1:1 backing through an SPV
- Per Coinbase's own description on this page, MSTRc is "an onchain certificate that provides economic exposure to shares" of Strategy, issued by Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market. Each token initially represents a one-to-one beneficial interest in shares held in a segregated custody account with a regulated broker-dealer and custodian, identified in launch coverage as Alpaca Securities LLC (The Defiant). The token is a claim on the value of the share, not the share itself.
- Primary market keeps it close
- Only KYC-onboarded authorized participants can create and redeem tokens against real shares, at a creation fee of one basis point and a redemption fee of five, while secondary trading on-chain is permissionless. When the on-chain price drifts from the stock, those participants have an arbitrage incentive to pull it back.
- 24/7 trading against a price that sleeps
- MSTRc trades around the clock on Base, with Aerodrome as its deepest venue, but the Nasdaq reference price only moves during market hours. Overnight and weekend trades reflect what traders expect the stock to do at the next open, so premiums and discounts are normal outside 9:30am to 4pm ET.
- Dividends and splits show up through a multiplier
- Rather than changing your balance, the issuer reflects reinvested distributions and corporate actions through an on-chain multiplier, so one token does not permanently equal one share; the page's own text says the share-to-token ratio may change over time for distributions, fees, taxes, and corporate actions.
What drives the underlying share, and where the token can diverge
Strategy Inc., formerly MicroStrategy, is the Nasdaq-listed company that has made accumulating bitcoin its primary corporate strategy, funded through convertible notes, preferred stock, and equity sales, alongside a legacy software business. Its share price moves mostly with bitcoin, amplified by the leverage in its capital structure and by whether the market values the company above or below the bitcoin it holds. Read Strategy's own filings for the business; nothing here forecasts bitcoin, its earnings, or its stock.
Where the token can diverge from the stock. Three things can push MSTRc away from MSTR's price. On-chain liquidity is thin compared with Nasdaq, under $1 million in the main Aerodrome pool at capture, so large orders move the token more than they would move the stock. Issuer and custodian risk sit underneath the 1:1 claim: the structure is documented and the custodian is SEC-registered, but you are trusting it to hold. And redemption is not open to everyone, so a retail holder who wants out sells on-chain at whatever the local market pays rather than redeeming a share. The token itself is only weeks old, with pools dating to September 4, 2026, so it has no history of tracking through a volatile bitcoin move. To evaluate any MSTRc price: compare it to MSTR's last Nasdaq print, ask whether the gap is bigger than the on-chain liquidity explains, and remember the token's price is a bet on the stock plus a layer of crypto-rail risk on top.
How to buy Strategy Inc. (MSTRc) in Phantom
Buying MSTRc takes a few minutes once your Phantom wallet has the Base network active and some ETH for gas, but the first step is different from any memecoin on this site: confirm you are allowed to hold it. Coinbase's tokenized stocks are offered under Regulation S and are unavailable to US persons.
- Confirm you're eligibleThe issuer restricts these tokens to eligible investors outside the United States, with transfer restrictions written into the contracts and identity checks that vary by jurisdiction (The Defiant). Check Coinbase's current terms before funding a purchase; Phantom does not vet eligibility for any token, so this check is yours to make.
- Install Phantom and secure your walletDownload Phantom as a mobile app (iOS or Android) or browser extension and create or import a wallet. Write your Secret Recovery Phrase on paper and store it offline; anyone who obtains it controls every asset in the wallet, and Phantom will never ask for it.
- Fund your wallet with ETH and USDC on BaseGas on Base is paid in ETH, and MSTRc's deepest pool is quoted in USDC, so hold both. Buy them inside Phantom with a card or bank transfer, bridge from Ethereum, or withdraw from an exchange that supports Base.
- Paste the contract address, review, and confirmIn the Swap tab on Base, paste the full contract address as the receive token and confirm it reads MSTRc. Review the estimated output, price impact, and fee; the main pool held under $1 million at capture, so a large order can move the price. Confirm, and the token lands in your wallet once Base confirms.
Always verify the contract address
The legitimate Base contract address is the one shown on this page. Cross-reference it against Basescan or Coinbase's own tokenized-stock listings rather than search results, because look-alike tokens using company names are common on every chain. If the address does not match exactly, stop.
What you actually hold, and what it costs
After the swap you hold a Base token that Coinbase's SPV backs with Strategy shares in custody: a claim on the share's value, not a brokerage position, not a vote, and not something a retail holder can redeem directly. Gas on Base is a few cents; the real costs are the swap's price impact and slippage, plus any premium the on-chain price carries over the Nasdaq price at the moment you buy, which is easy to miss outside market hours. Dividends, if Strategy ever pays one, carry a 5% distribution fee and US withholding tax before they reach the multiplier.
Phantom (self-custody) | Centralized exchange | |
|---|---|---|
Who holds your keys | You | The exchange |
Who can freeze funds | Nobody, but the contract enforces transfer restrictions | The exchange can |
Buy path for MSTRc | Direct in-wallet swap on Base | Not listed on exchanges at capture; eligibility rules still apply |
What is Strategy Inc.?
Strategy Inc. (MSTRc) is a Coinbase Tokenized Stock: an on-chain certificate on Base that provides economic exposure to shares of Strategy Inc., the Nasdaq-listed company formerly called MicroStrategy that has made accumulating bitcoin its primary corporate strategy. Coinbase launched tokenized stocks on Base on August 24, 2026 with Apple, Nvidia, Meta, and Alphabet, and MSTRc followed in early September (CoinDesk). The issuer is Coinbase Onchain SPV Ltd, incorporated in the Abu Dhabi Global Market on June 17, 2026 as a subsidiary of Coinbase Global, and the page's own About text is Coinbase's description: each token initially represents a 1:1 beneficial interest in shares held in a segregated custody account with a regulated broker-dealer and custodian.
The structure, per launch coverage in The Defiant, works like this. Underlying shares are custodied by Alpaca Securities LLC, an SEC-registered broker-dealer, in a bankruptcy-remote arrangement. Minting and redemption are limited to KYC-onboarded authorized participants, who pay one basis point to create and five to redeem, while anyone eligible can trade the token on-chain; Aerodrome hosts the deepest pool, and the tokens are built to plug into DeFi apps such as Aave and Morpho with Chainlink price feeds. Dividends and splits are handled through a multiplier rather than balance changes, with a 5% distribution fee and 30% US withholding on dividends. The tokens are offered under Regulation S and are unavailable to US persons, with transfer restrictions in the contracts. At capture the tokenized float was under 10,000 tokens, worth about $1.2 million, held by roughly 750 wallets.
Is MSTRc safe?
For a tokenized security from a large issuer, safety is about the structure rather than the code.
- Issuer and custodian
- The claim rests on Coinbase's ADGM-regulated SPV and an SEC-registered custodian holding the shares. That is a stronger chain of custody than most tokenized assets carry, and it is still a chain of trust rather than direct ownership.
- Eligibility and transfer restrictions
- The contracts enforce Regulation S restrictions. A US person who acquires the token is on the wrong side of those terms, and transfers can be blocked by design; treat the eligibility check as part of the safety check.
- Liquidity and tracking
- On-chain depth is under $1 million and the token is weeks old, so premiums and discounts to the Nasdaq price can be wide, especially outside market hours and during sharp bitcoin moves.
- Look-alike tokens
- Company-name tokens with no backing exist on every chain, and other issuers offer their own tokenized Strategy products, such as Backed's MSTRx xStock, with different contracts, custodians, and terms. The verified Base contract is the only Coinbase MSTRc.
The mindset: you are holding leveraged bitcoin exposure through a stock, through a token. Size the position for both layers of volatility. Never share your Secret Recovery Phrase, and treat unsolicited DMs about airdrops or support as theft attempts.
Strategy Inc. FAQ
The market capitalization of MSTRC is $2.1M as of Oct 31, 2026.
Market capitalization is calculated by multiplying the current price of MSTRC by its circulating supply. It reflects the overall value of the token in the market and helps gauge its relative size compared to other cryptocurrencies.
The daily trading volume of MSTRC is $17M as of Oct 31, 2026.
Trading volume can fluctuate based on market conditions, investor activity, and overall demand for MSTRC.
The total supply of MSTRC is 15,672.9093.
The circulating supply, which represents the number of MSTRC currently available in the market, is 15,672.9093 as of Oct 31, 2026.
MSTRC can be bought and traded on a variety of cryptocurrency platforms, including Phantom!
MSTRc is a Coinbase Tokenized Stock on Base: an on-chain certificate issued by Coinbase Onchain SPV Ltd in the Abu Dhabi Global Market that gives economic exposure to shares of Strategy Inc., the Nasdaq-listed bitcoin-treasury company formerly called MicroStrategy. Each token initially represents a 1:1 beneficial interest in shares held with a regulated custodian, it trades around the clock on Base, and the verified contract address is the one shown on this page.
Yes, per the issuer's description on this page: each token initially represents a one-to-one beneficial interest in Strategy shares held in a segregated custody account with a regulated broker-dealer and custodian, identified in launch coverage as Alpaca Securities LLC. The share-to-token ratio can change over time through a multiplier that reflects distributions, fees, taxes, and corporate actions, so one token does not permanently equal exactly one share.
First confirm you are eligible, since the token is unavailable to US persons. Then switch Phantom to the Base network, fund your wallet with ETH for gas and USDC to swap from, open the Swap tab, and paste the contract address shown on this page as the token to receive. Review the estimated output and price impact, then confirm; MSTRc lands in your wallet once Base confirms.
Eligible investors outside the United States. Coinbase offers its tokenized stocks under Regulation S, they are unavailable to US persons, and transfer restrictions are written into the contracts, with identity checks that vary by jurisdiction. Phantom does not vet eligibility for any token, so confirm Coinbase's current terms for your location before buying.
Coinbase Onchain SPV Ltd, a company incorporated in the Abu Dhabi Global Market on June 17, 2026 and owned by Coinbase Global through Onchain Marketplace Holdings Limited. Coinbase secured its ADGM financial services permission in August 2026 and launched tokenized stocks on Base on August 24, 2026. Strategy Inc. itself has no role in issuing the token.
Dividends, if any, are reflected through the token's multiplier after a 5% distribution fee and 30% US withholding tax, per launch coverage, rather than paid as cash; Strategy has not historically paid a common dividend. Token holders have no direct voting rights; only KYC-cleared holders registered as vested holders in the issuer's legal register can vote. Treat MSTRc as economic exposure only.
A brokerage account gives you the share itself, with voting rights and the protections of your local securities regime, during market hours. MSTRc gives you a token on Base that tracks the share's value 24/7, can be held in a self-custody wallet and used in DeFi apps, but depends on Coinbase's SPV and custodian, carries thin on-chain liquidity, cannot be redeemed by retail holders, and is closed to US persons.
Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.
Buy Strategy Inc. with the Mobile App
Scan the QR Code above to download Phantom and buy, sell, and manage your crypto on the go.
Trending Tokens
Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.