Strategy Adds 3,787 Bitcoin Worth $339M Despite Market Drop

Michael Saylor’s Strategy continued its aggressive Bitcoin strategy last week, adding thousands of BTC even as prices whipsawed and briefly fell below the company’s average cost basis.

Key Takeaways

• Strategy acquired 3,787 BTC last week, totaling $339.4 million, during a period of sharp price swings in the crypto market.
• Purchases were made at high average prices, including $90,061 and $87,974 per bitcoin, suggesting confidence in long-term value.
• The company’s total BTC holdings now stand at 713,502, worth just over $62 billion at current prices.
• Most of the acquisitions were funded by selling common stock, with an additional $7 million raised via preferred stock.

What Happened?

Despite market turbulence that saw Bitcoin plunge below $75,000 over the weekend, Strategy pressed on with two separate bitcoin purchases. The firm picked up 2,932 BTC earlier in the week for $264.1 million, followed by an additional 855 BTC for $75.3 million later on. This brings their total haul to 3,787 BTC in just one week.

Strategy’s Ongoing Bitcoin Accumulation

Under the leadership of Executive Chairman Michael Saylor, Strategy has maintained a consistent buying pattern even during moments of high market volatility. The company’s most recent purchases came amid a sharp weekend drop, where Bitcoin dipped below $75,000 after briefly reaching the $90,000 mark earlier in the week.

• 2,932 BTC purchased for $264.1 million at an average price of $90,061 per coin.
• 855 BTC purchased for $75.3 million at an average price of $87,974 per coin.
• Combined total of 3,787 BTC acquired for approximately $339.4 million.

These latest acquisitions were notably smaller in scale than Strategy’s billion-dollar buys in prior weeks, but they still reaffirm the company’s commitment to its Bitcoin-centric strategy. The purchases were primarily financed by selling common stock, with $7 million also raised through STRC preferred stock.

Cost Basis and Market Conditions

Following these buys, Strategy’s total bitcoin holdings now stand at 713,502 BTC, acquired at a cumulative cost of $54.26 billion, or an average price of $76,052 per coin. The timing of the purchases is noteworthy. Bitcoin’s drop below Strategy’s average cost basis marked the first time since late 2023 the crypto had traded under the company’s breakeven point.

Historically, Strategy has slowed its buying when prices fell below its cost basis. For example:

• In 2022, Bitcoin stayed below the company’s average purchase price for an extended time, resulting in Strategy acquiring just 8,109 BTC that year.
• From late 2022 to mid-2023, they made seven separate purchases totaling 28,560 BTC during this below-cost period.

Market Confidence Remains

Despite the recent market dip, broader sentiment remains cautiously optimistic. Polymarket, a decentralized prediction platform, shows a 72% chance that Bitcoin will dip below $65,000 this year. Yet it also gives an 81% probability that Strategy will hold 800,000 BTC by the end of 2026. To meet that projection, Strategy would need to acquire at least an additional 87,000 BTC over the next two years.

Saylor remains bullish. Last year, he predicted Bitcoin could reach $21 million per coin by 2046, reinforcing Strategy’s long-term vision despite short-term volatility.

CoinLaw’s Takeaway

I’ve followed Michael Saylor’s Bitcoin accumulation strategy for years, and what continues to impress me is his relentless conviction. Buying nearly $340 million worth of BTC in a week where the market stumbled takes serious guts. Most investors panic when the price dips. Strategy treats it like a buying opportunity. I find this kind of resilience refreshing in a space that often sways with fear and greed. Whether you agree with Saylor or not, his playbook is simple: stack BTC and never sell. That kind of clarity is rare.

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