TLDR
- Strategy (MSTR) purchased 2,486 bitcoin for $168.4 million between February 9-16, 2026, at an average price of $67,710 per coin.
- The company now holds 717,131 bitcoin acquired for $54.52 billion total, with an average cost basis of $76,027 per coin.
- With bitcoin trading at $68,000, Strategy is currently sitting on an unrealized loss of roughly $5.7 billion on its holdings.
- The bitcoin purchases were funded through $90.5 million in common stock sales and $78.4 million in preferred stock sales via the company’s ATM program.
- MSTR shares fell 3.2% in premarket trading and are down more than 60% year-over-year.
Strategy continued its aggressive bitcoin accumulation strategy last week. The company added 2,486 bitcoin for $168.4 million between February 9 and February 16.
The purchase price averaged $67,710 per coin. That’s below the current bitcoin price of $68,000 but well below Strategy’s overall cost basis.
The company’s total bitcoin holdings now stand at 717,131 coins. Strategy has spent $54.52 billion acquiring these holdings, working out to an average of $76,027 per bitcoin.
The math isn’t pretty right now. With bitcoin trading around $68,000, Strategy is underwater by roughly $8,000 per coin. That translates to an unrealized loss of approximately $5.7 billion on the entire position.
Funding the Bitcoin Buys
Strategy funded last week’s bitcoin purchases through equity sales. The company raised $90.5 million by selling common stock and another $78.4 million through sales of its STRC preferred stock series.
These sales were part of Strategy’s at-the-market offering program. Between February 9 and 16, the company sold 785,354 shares of its 10% Series A Perpetual Strife Preferred Stock for $78.5 million in face value.
It also sold 660,000 shares of Class A common stock during the same period. The company maintains substantial remaining capacity across its various preferred and common stock programs.
Market Reaction
MSTR shares dropped 3.2% in premarket trading following the announcement. The stock has been under pressure all year, down more than 60% year-over-year.
The company’s market cap now sits at $38.47 billion. Average trading volume runs around 23 million shares per day.
The AI analysis points to weak financial performance as a key concern. The company shows negative profitability and negative operating and free cash flow. Bearish technical trends add to the pressure, with the stock price below key moving averages.
Strategy uses its corporate website as the primary disclosure channel. The company provides real-time data on securities prices, bitcoin purchases, holdings, and other performance metrics.
The February 9-16 acquisition represents another chapter in executive chairman Michael Saylor’s bitcoin strategy. Strategy has transformed from a business intelligence company into essentially a leveraged bitcoin investment vehicle.
The company continues to raise capital through equity offerings to fund additional bitcoin purchases. This approach dilutes existing shareholders but allows Strategy to increase its bitcoin position without taking on traditional debt.
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