In the days before last week’s sharp market reversal, Strategy quietly expanded its exposure through another scheduled microstrategy bitcoin accumulation round.
Strategy extends its weekly bitcoin buying program
Strategy (MSTR) continued its pattern of weekly bitcoin purchases, though the latest move was modest compared with some earlier deployments. Led by executive chairman Michael Saylor, the company bought 855 BTC for a total of $75.3 million, according to a filing published on Monday morning.
That purchase price translates into an average of $87,974 per coin for last week’s tranche. However, Strategy emphasized in the filing that the acquisition was fully financed through the sale of common stock, underscoring its long-standing practice of using equity issuance rather than debt for incremental bitcoin exposure.
Scale of the purchase and long-term accumulation strategy
The 855 BTC addition is relatively small in the context of Strategy’s broader program. Over the past several months, the company has routinely, though not always, committed hundreds of millions or even billions of dollars in some weeks. Moreover, the latest buy comes as the firm maintains its stance as one of the largest corporate holders of the asset.
Strategy’s bitcoin balance now stands at 713,502 BTC, acquired at a cumulative cost of approximately $54.26 billion. That equates to an average acquisition price of $76,052 per bitcoin, a figure closely watched by investors tracking the firm’s long-term positioning and risk profile.
Market conditions and breakeven dynamics
The timing of the transaction is notable. The company completed the purchase just ahead of last week’s steep price decline, which extended into the weekend and pressured risk assets across the digital asset market. However, despite the volatility, bitcoin is currently trading just above $77,000, leaving Strategy’s overall position only slightly in the green on a mark-to-market basis.
This level effectively places the firm’s vast holdings around breakeven after roughly 5.5 years of continuous accumulation of BTC. That said, the latest tranche, executed at an average of $87,974, is currently underwater, highlighting the short-term impact of timing even within a long-horizon strategy.
Share price reaction and equity-funded purchases
Equity investors reacted negatively in early trading. MSTR shares were down 7.3% in premarket activity, dropping to a new multi-year low of $138.80. Moreover, the decline underscores ongoing market debate over the firm’s aggressive use of its corporate treasury and capital structure to build such a large bitcoin position.
The company has repeatedly tapped equity markets to finance its bitcoin acquisitions. In last week’s case, the entire 855 BTC purchase was funded by selling common stock, rather than taking on new debt. However, this approach continues to dilute existing shareholders even as it increases the firm’s direct exposure to bitcoin’s price swings.
Michael Saylor’s public stance and market profile
Michael Saylor, who serves as executive chairman, has remained one of the most visible corporate advocates for bitcoin. On March 20, 2025, he appeared at the Digital Asset Summit in New York City, reiterating his thesis that bitcoin should function as a long-term treasury reserve asset for corporations. However, critics point to the elevated volatility in both MSTR stock and the crypto market as evidence of the risks embedded in this approach.
For now, Strategy’s latest filing reinforces that the company is maintaining its accumulation playbook even through sharp corrections. As bitcoin trades just above Strategy’s average purchase level, the firm’s long-term bet on digital sound money remains finely balanced between modest profit and renewed downside risk.
In summary, Strategy’s most recent $75.3 million purchase adds 855 BTC to a total of 713,502 bitcoin, leaving the company near breakeven at current prices while equity investors absorb fresh volatility and dilution.
Source: https://en.cryptonomist.ch/2026/02/02/microstrategy-bitcoin-purchase-855/
