Michael Saylor’s Strategy Adds 1,142 BTC During Market Dip

Highlights:

• Michael Saylor’s Strategy bought 1,142 BTC between February 2 and 8 for $90 million.
• The firm’s Bitcoin holdings now total 714,644 BTC, worth nearly $49 billion.
• Strategy’s unrealized losses reached over $5 billion amid Bitcoin’s recent price drop.

Michael Saylor’s Strategy purchased 1,142 BTC last week at an average price of $78,815 per coin. On Monday, the company announced the $90 million transaction in an SEC filing. This recent acquisition has brought its total assets to 714,644 BTC.

Proceeds obtained through the sale of 616,715 shares of its MSTR stock were used to finance the acquisition. The sale of common stock contributed to net proceeds of about $89.5 million. The company has almost $8 billion of available equity in the stock issuance program as of February 8.

The acquisition was made in a turbulent week in the crypto market. Bitcoin had fallen below $70,000, reaching the lows of about $60,000 before recovering again. MSTR stock, which commonly trades alongside Bitcoin, surged by 26% last Friday before dropping 4% in premarket trading today.

Saylor hinted at the purchase before the Monday filing. He shared “Orange Dots Matter” with a chart tracking the Strategy BTC portfolio on Sunday. This has become a common indicator to his followers that another purchase could be made the next day.

Losses Mount as Bitcoin Trades Below Cost Basis

Despite the aggressive accumulation, Strategy has a loss in its unrealized BTC holdings of about $5 billion. According to DropsTab data, the average cost basis of the firm is $76,056 per BTC, with Bitcoin presently trading close to $68,000.

Bitcoin is currently below the average buy price, which contributed to these paper losses. The cost of purchasing 714,644 BTC is approximately $54.4 billion, and the market value is near $49 billion. This constitutes about 3.4% of Bitcoin’s total fixed supply of 21 million.

In the same week, Michael Saylor’s Strategy reported a net loss of $12.4 billion in Q4 2025. The company cited mark-to-market adjustments related to the decline of Bitcoin as the major cause. Strategy, however, noted that it is not worried about its capital structure.

In the earnings call, CEO Phong Le addressed debt concerns. He said that Bitcoin would have to drop to $8,000 and remain at that level for 5-6 years before it would pose a threat to the company’s capacity to service its convertibles. He further added that Strategy would consider alternatives like restructuring or raising more capital in such a scenario.

Strategy Holds Strong Despite Market Turbulence

Despite unrealized losses, Michael Saylor’s Strategy keeps purchasing additional Bitcoin each week. The company considers Bitcoin its primary reserve asset and does not show any signs of slowing its accumulation. Strategy is the largest public corporate BTC holder. Although the market is volatile, the company does not alter its long-term thesis regarding the value of Bitcoin.

Metaplanet, another Bitcoin treasury company, recently noted that it will not change its Bitcoin strategy. The firm confirmed that it won’t switch direction even in the face of stock pressure. CEO Simon Gerovich said that Bitcoin remains at the center of their strategy. 

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