Strategy continued its long-running Bitcoin accumulation campaign last week, adding 855 BTC in a comparatively modest purchase as market volatility weighed on both the cryptocurrency and the company’s stock. Executive chairman Michael Saylor disclosed the transaction in a post on X today, stating that Strategy acquired the BTC for approximately $75.3 million at an average price of $87,974 per coin. As of Feb. 1, 2026, the company now holds 713,502 BTC, accumulated for roughly $54.26 billion at an average price of $76,052 per Bitcoin. The latest purchase was funded through the sale of common stock, according to a regulatory filing released Monday morning . While consistent with Strategy’s established playbook, the scale of the acquisition stood out for being relatively small. Over the past several months, the company has often bought hundreds of millions of dollars’ worth of Bitcoin in a single week, and in some cases has deployed capital in the billions. A Slower Pace After Heavy Accumulation The reduced size of the most recent buy suggests a temporary slowdown rather than a shift in strategy. Since adopting Bitcoin as its primary treasury reserve asset more than five years ago, Strategy has maintained a near-weekly purchasing cadence, using equity issuance and debt offerings to steadily increase its exposure. Meanwhile, Saylor has repeatedly framed the approach as a long-term bet on Bitcoin’s monetary properties, arguing that holding BTC offers superior protection against inflation and currency debasement compared with cash or traditional fixed-income assets. That philosophy has turned Strategy into the largest publicly traded corporate holder of Bitcoin by a wide margin. With more than 713,000 BTC on its balance sheet, Strategy now controls a meaningful share of Bitcoin’s fixed 21 million supply, a fact often cited by both supporters and critics of the company’s approach. Bitcoin Near Strategy’s Breakeven Level The timing of the latest disclosure comes as Bitcoin trades just above $78,900 following a sharp pullback late last week that extended into the weekend. At those levels, Strategy’s average purchase price of roughly $76,000 leaves the company only marginally above breakeven on its aggregate holdings. Despite the narrow cushion, Strategy’s Bitcoin position remains deeply entrenched after more than 5.5 years of accumulation. During that period, the company has weathered multiple boom-and-bust cycles, including extended drawdowns that saw BTC lose more than 70% of its value from peak levels. Shares Slide Despite Continued Buying The market reaction to the latest purchase was negative. Strategy’s MSTR shares were down more than 3% in intraday trading, reflecting broader weakness in crypto-linked equities and lingering investor sensitivity to Bitcoin price movements. Strategy share price (Source: CoinCodex) Historically, MSTR stock has traded as a leveraged proxy for BTC, often amplifying both gains and losses in the underlying asset. When Bitcoin rallies, Strategy shares have tended to outperform, while downturns in the crypto market frequently translate into outsized declines for the stock. The dip in MSTR shares shows the tension facing investors: while Strategy’s BTC thesis remains intact, short-term price volatility can still exert significant pressure on equity valuations, particularly after extended periods of aggressive accumulation.
