STRATEGY climbed to a $7.2 million valuation on Robinhood Chain, an Ethereum Layer 2 built on Arbitrum. Every trade into its primary liquidity pool routes through tokenized MSTR shares—Michael Saylor's MicroStrategy ticker.

The token launched Sept. 4 on Robinhood Chain. Long.xyz, the platform facilitating the launch, pairs every token against Robinhood Stock Tokens instead of traditional assets like ether or stablecoins. As buyers acquire STRATEGY, they pay with tokenized MSTR, which accumulates within the pool. The project pitched the offering as a real-world asset play, though STRATEGY does not represent a direct claim on MicroStrategy stock.

By Sept. 14, Dexscreener data showed STRATEGY with $808,600 in total liquidity and $691,000 in 24-hour volume—a 28 percent daily gain. Trading that period included 1,996 buy orders against 2,246 sell orders. Within 10 days of launch, the MSTR component of the pool surpassed $362,000, demonstrating the direct link between memecoin trading and the underlying tokenized stock.

The memecoin tapped into explosive momentum on Robinhood Chain. On Sept. 2, memecoin and Stock Token pairs generated $217 million in volume, dwarfing the $127 million in direct Stock Token markets. Robinhood Chain posted $3 billion in daily DEX volume for the first time during the week of Sept. 2. Its native launchpad token, PONS, reached $440 million market cap by Sept. 11. Stock Tokens counted 862,800 holders two months after launch.

MicroStrategy's official account posted Sept. 13: "Liquidity creates demand. Demand creates liquidity," tagging MSTR and garnering nearly 99,000 views. The STRATEGY memecoin account quoted the post hours later, asserting that demand for MSTR translates into liquidity for the memecoin, and vice versa.

One trader documented approximately 6,000 mentions of STRATEGY over seven days versus 14,500 for MSTR. At a $6 million market cap, STRATEGY trades at roughly 12 percent of MicroStrategy's $51 billion valuation. An influencer pitched a potential $500 million market cap—70 times current levels.

MicroStrategy held 845,050 Bitcoin and $6.5 billion in U.S. dollar assets as of Sept. 7. At $77,846 per Bitcoin, the BTC holding alone values at approximately $65.8 billion. Total holdings reach approximately $72.3 billion.

STRATEGY's model sparked rapid cloning. A separate STRATEGY token launched on Solana on Sept. 13, hitting $5.26 million market cap with a 12,595 percent 24-hour gain. Another STRATEGY token on Robinhood Chain with a different contract address dropped 82 percent to $6,369. The original trades with a contract address ending in "eb21e18."

Any asset built on tokenized MSTR remains correlated with Bitcoin price performance. These tokens' value propositions directly tie to movements in the world's largest cryptocurrency.