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MSTR stock price, the most leveraged way to be long bitcoin
The MSTR stock price is driven substantially by the bitcoin the company holds, and the number on this page is a live perpetual future on that share, which makes it a leveraged claim on a leveraged claim on bitcoin.
Read from the exchange as this page rendered. A perpetual future on MSTR, the listed company best known for holding bitcoin on its balance sheet.
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Read from the Pacifica perpetual book at 2026-09-27 11:34 UTC, through our own keyless relay, and refreshed at most every five minutes. Any figure quoted from this page is accurate as of that time and not afterwards.
Two layers of leverage, stacked
The company funds bitcoin purchases partly with debt and equity issuance, so its shares already move more than bitcoin does in both directions. A perpetual future on those shares adds margin leverage on top. Anyone sizing a position here should be clear that they are not taking a bitcoin position with extra steps: they are taking a bitcoin position multiplied twice, and the second multiplication has a liquidation price.
The premium to net asset value is the thing to watch
The share has historically traded at a premium or discount to the market value of the bitcoin it holds, and that premium moves on its own, driven by how easily investors can get bitcoin exposure elsewhere. When direct access is easy the premium tends to compress. So the stock can fall on a day bitcoin rises, and that is not a mispricing to trade against without understanding which of the two is moving.
Why a crypto venue lists it
A perpetual on MSTR lets a crypto-native trader express a view on the equity wrapper without leaving the venue or opening a brokerage account. That is a real use, and it also means the participants here are often the same people positioned in bitcoin, so the funding on this contract and the funding on bitcoin perps frequently tell a similar story.
This is not the listed price, and the reference is undocumented
It is a cash-settled contract with no share attached, trading around the clock against an underlying that does not. Pacifica does not publish how it derives the reference for this symbol, so treat the venue's terms as the authority rather than this page.
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- Stocks Delta-Neutral
the same funding spread trade on stock perps, long one venue and short the other.
- HyperBoard: Crypto Market Dashboard
prices, funding rates, open interest and liquidity across crypto perpetual markets, live.
- SignalDesk
ranks tokens by a composite signal and charts them with EMA, Bollinger, RSI and MACD overlays, on Hyperliquid.
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