Strategy (MSTR), the Bitcoin treasury company formerly known as MicroStrategy, traded 49.2 million shares on Aug. 19 and 46.9 million on Aug. 20, surpassing Microsoft and Meta in daily volume and ranking as the 10th most actively traded U.S. stock. The activity was roughly double its typical 30-day average of 22 million to 25 million shares. Strategy’s market capitalization is estimated at $45 billion to $47 billion, while its shares recently traded near $119 to $120 after ranging from about $81.81 to $365.21 over 52 weeks. The company’s Bitcoin accumulation strategy, launched in 2020 under executive chairman Michael Saylor, has made MSTR a proxy for Bitcoin exposure in traditional equity markets, while its capital-markets activity supports additional Bitcoin purchases.