Strategy’s past golden crosses produced gains one year later in 10 of 19 cases, with a median return of 3.3%, according to a CoinDesk analysis of the stock’s trading history.
A golden cross forms when a stock’s 50-day moving average crosses above its 200-day average. In its Oct. 19 analysis, CoinDesk said Strategy’s averages were approaching one another, but a new crossover had not been confirmed.
CoinDesk’s review found shares were higher after three months in 11 of the 19 cases. It also identified 61% declines after crosses in 2001 and 2007, but did not give the interval used to measure those drops.
The two signals after Strategy began buying Bitcoin (BTC) in 2020 were followed by large price moves in both directions. After a Sept. 15, 2020, cross, shares rose from about $15.57 to $127.29 by Feb. 2021. They had fallen to $46.83 by Jan. 2022, when the 50-day average moved below the 200-day average, a reversal known as a death cross.
A second signal came on March 2, 2023, when shares stood at $25.29. CoinDesk reported they climbed to $473.83 in Nov. 2024 and stood at $328.40 when a death cross appeared in Oct. 2025. These later price moves cover different periods from CoinDesk’s 12-month comparison across all 19 signals.
