Markets
MSTR86.37BTC94.41 EquityCrypto
MSTR/BTC
MicroStrategy relative to Coinbase Wrapped BTC
MSTR−2.56%BTC leads · 24h−0.23%BTC
Relative performance · indexed to 100
91.49−8.51%1M
Ratio 0.001743 · BTC per MSTR
MSTR86.37Base
MSTR
MicroStrategy xStockMSTRx
- Mint
- XsP7…xxyZ
- Decimals
- 8
Quote
BTC
Coinbase Wrapped BTCcbBTC
- Mint
- cbbt…iMij
- Decimals
- 8
What this market measures
Tracks MSTR performance relative to BTC.
The chart shows relative performance indexed to 100 at the start of the range. This is not the price of an Otus token and not the price of either asset - it is how MSTR has done against BTC, which can rise even when both are falling.
A leveraged bitcoin balance sheet against bitcoin itself. Isolates the premium the equity carries over its own holdings.
Why a ratio, not two perps
- One position, one liquidation level
- A long-MSTR short-BTC pair built from two perps can be liquidated on a market-wide wick: the long leg blows up before the short leg pays out, even when the view was right. A ratio position only cares whether MSTR outperforms; its liquidation level is a ratio level.
- Balanced by construction
- Two legs drift out of balance and need constant rebalancing. A ratio position cannot drift. It is the relationship itself.
- One margin, one fee
- Two legs cost double margin, double fees and double funding. One position halves all three.
- Pairs that exist nowhere else
- Many pairs cannot be assembled from existing perps at all, because one side has no perp market. Tokenized equities and long-tail Solana assets first among them.
- Identifier
- mstr-btc
- Listed
- Sep 21, 2026
- Creator
- Unattributed
Trade
MSTR outperforms BTC.
Leverage10×
Margin
USDC
USDC- Entry ratio
- 0.001743
- Liquidation ratio
- 0.001569(−10.0%)
- Position size
- 1,000.00
Margin settles to the Otus vault through a Jupiter swap from your wallet. Positions are marked against live ratios.