Michael Saylor’s Strategy, the world’s largest publicly listed corporate holder of Bitcoin, disclosed a new $90 million purchase of the cryptocurrency, adding 1,142 BTC to its balance sheet. The acquisition was completed at an average price of approximately $78,815 per coin, according to a filing with the US Securities and Exchange Commission.
The purchase came during a period of heightened market volatility, with Bitcoin trading below Strategy’s average acquisition price for much of the week and briefly dipping to around $60,000 on major exchanges. Despite the drawdown, the company did not time the local lows, instead continuing its incremental accumulation strategy. The latest transaction brings Strategy’s total holdings to 714,644 BTC, acquired for roughly $54.35 billion at an average price of $76,056 per Bitcoin.
Accumulation Strategy amid Market Weakness
By purchasing Bitcoin above its existing cost basis, Strategy avoided lowering its average entry price, a dynamic that has drawn attention from market participants. Bitcoin has remained below the company’s average purchase price since the acquisition, underscoring the near-term unrealized losses embedded in Strategy’s position.
This approach is consistent with Strategy’s historical behavior during prior market cycles. In 2022, when Bitcoin traded below the firm’s average cost near $30,600, the company slowed the pace of large acquisitions but continued to add smaller amounts. The current purchase marks only the second time this cycle that Strategy has added Bitcoin while prices remained below its overall cost basis, reinforcing its stated long-term conviction rather than a tactical trading posture.
Institutional Context and Market Implications
Strategy’s continued buying comes as institutional sentiment toward Bitcoin remains mixed. Spot Bitcoin exchange-traded funds have seen uneven flows in recent weeks, while macro uncertainty around interest rates and liquidity conditions has pressured risk assets broadly. Against this backdrop, Strategy’s balance-sheet-driven accumulation stands out as one of the largest single sources of consistent demand in the Bitcoin market.
The company’s equity has continued to track Bitcoin’s volatility. Strategy shares fell sharply alongside the broader crypto market before rebounding with a late-week recovery, reflecting the tight linkage between its stock performance and Bitcoin price movements. As mining economics tighten and corporate treasuries reassess digital asset exposure, Strategy remains a distinct case of concentrated, long-duration Bitcoin allocation at an institutional scale.
