Strategy, a bitcoin financial company led by Executive Chairman Michael Saylor, bought $168.4 million in bitcoin last week, continuing its long-term accumulation strategy despite the ongoing volatility in the crypto market.
The company disclosed that it had acquired 2,486 BTC last week, increasing its already large holdings. The company’s total bitcoin reserves now stand at 717,131 BTC, making it one of the largest holdings of bitcoin in the world.
According to the company, the full position was collected at $54.52 billion, which represents an estimated purchase price of $76,027 per bitcoin.
With bitcoin currently trading around $68,000, the Strategy’s holdings remain below its aggregate cost basis. The difference means an unrealized loss of about $8,000 per coin, or about $5.7 billion for the company’s entire stack.
Saylor confirmed the latest purchase in a statement Tuesday, noting that Strategy continues to build its bitcoin position as part of the company’s broader treasury strategy. The company has consistently added bitcoin through market cycles, positioning the asset as a long-term safe haven.
The strategy accounted for more than 90% of the public company’s new purchases in January. Public companies now own about 1.13 million of the total BTC, Strategy controls about two-thirds, while also increasing its influence with hybrid digital debt instruments such as STRC and STRF.
Strategy common stock sales
The filing also explained how the recent acquisition was financed. The company said the bitcoin purchase was financed with $90.5 million in proceeds from the sale of common stock, and $78.4 million raised from the sale of its STRC preferred stock.
The company has relied on a combination of equity issuance and other financing tools in recent years to support its bitcoin collection program.
The strategy has received strong support and criticism from market participants. Advocates view the company as a pioneer in institutional bitcoin adoption, while skeptics point to the dangers of using corporate capital markets to increase exposure to volatile assets.
The purchase comes at a time when bitcoin has traded below record highs, putting pressure on companies with large equity holdings. Its average acquisition cost now exceeds the current market price, highlighting the potential decline even in industries that have built positions over many years.
In the stock market, Strategy shares have shown continued investor vigilance. MSTR stock fell 3.2% in premarket trading on Tuesday and is down more than 60% year-to-date, according to market data.
Last Friday, MSTR shares rose more than 10%.
Despite the near loss implied by the withdrawal of Bitcoin, the company has maintained its commitment to holding and acquiring more BTC. The company has repeatedly stated that it views bitcoin as a long-term asset and a central pillar of its balance sheet vision.
