MicroStrategy bought more bitcoin again. The software company picked up 855 coins for roughly $75.3 million last week, paying an average of $87,974 per bitcoin according to Monday’s SEC filing.
Talk about bad timing. The purchase happened just days before bitcoin took a nosedive over the weekend, dropping below $75,000 and putting MicroStrategy’s massive crypto bet temporarily underwater. The company now holds 713,502 bitcoin after spending about $54.26 billion total, with an average cost of $76,052 per coin. Bitcoin’s currently trading around $77,000, which puts the firm’s holdings barely in the green after more than five years of aggressive buying.
Not their biggest purchase lately.
MicroStrategy funded the latest buy through stock sales, pretty much their standard playbook at this point. Executive Chairman Michael Saylor keeps pushing the company deeper into bitcoin, and he’s shown zero signs of slowing down. The weekend crash briefly sent their treasury into the red, with Bitcoin Magazine Pro data showing prices hit around $74,500 during early Asian trading sessions. That created unrealized losses approaching $1 billion at one point before bitcoin bounced back to the mid-$75,000 range, cutting losses to roughly $150 million.
Saylor didn’t seem fazed by the volatility. He’s been vocal about bitcoin’s long-term potential and told investors during a January 31 webcast that bitcoin remains central to their strategy. The guy’s basically turned MicroStrategy into a bitcoin proxy play, and shareholders either love it or hate it.
The company raised its dividend on Series A Perpetual Stretch Preferred Stock to 11.25% to boost bitcoin buying power. Those preferred share proceeds helped fund purchases of more than 27,000 bitcoin in recent deals. Saylor hinted at more acquisitions coming in 2026, following their massive 22,000 bitcoin purchase on January 20.
MicroStrategy stock got hammered Monday, falling over 7% in premarket trading to $138.49 – a multi-year low. Crypto-related stocks tend to swing with bitcoin’s mood, and investors clearly didn’t like the weekend’s price action. The broader crypto market’s been pretty wild lately, with macroeconomic factors stirring up sentiment across digital assets.
Bitcoin’s trading at $77,822 right now with $86 billion in 24-hour volume. That’s down about 1% today, sitting 1% below last week’s high of $78,611 but roughly 4% above the seven-day low of $74,592. There are 19,982,656 bitcoin in circulation out of the 21 million cap, giving the asset a total market cap around $1.56 trillion – down 1% from yesterday.
MicroStrategy remains the biggest corporate bitcoin holder by far. They’ve shown no intention of backing off their aggressive buying strategy, even when timing doesn’t work out perfectly. The firm keeps leveraging its balance sheet to add more coins, demonstrating what Saylor calls “unwavering commitment” to bitcoin as a strategic asset.
Market analysts are watching MicroStrategy’s next moves closely after the weekend volatility. The company’s stock performance on February 2 showed investor jitters about bitcoin’s unpredictable swings, which have historically hammered crypto-exposed companies like MicroStrategy. But Saylor keeps doubling down, viewing bitcoin not just as a hedge but as a core financial asset that fits their long-term goals.
The recent purchase came against a backdrop of significant market turbulence. Bitcoin’s volatile price movements in early February reminded everyone about the asset’s inherent risks, but MicroStrategy’s continued investment shows they’re still believers in bitcoin’s potential for long-term value appreciation. Their consistent approach of funding acquisitions through equity sales represents a strategic effort to navigate these challenges.
During that investor call, Saylor emphasized bitcoin as a critical component of their corporate treasury policy. He said the approach aligns with broader financial objectives, and the company plans to keep raising capital through equity sales to fund more purchases. MicroStrategy’s ability to handle these fluctuations while sticking to their bitcoin strategy remains crucial, especially given the unpredictable market conditions seen in early February.
The firm’s stock decline to $138.49 reflects market concerns about bitcoin’s unpredictable nature. But they’re persisting with capital-raising ventures, showing steadfast commitment to expanding their bitcoin portfolio despite market headwinds. As bitcoin continues its volatile dance, MicroStrategy’s financial maneuvers stay under close scrutiny from investors and analysts who want to see how they’ll navigate the next round of crypto chaos.
MicroStrategy didn’t respond to requests for comment about future acquisition plans.
The company’s bitcoin strategy has attracted both institutional followers and vocal critics since Saylor first announced the pivot in 2020. Several other public companies have adopted similar treasury strategies, including Tesla, Block, and Marathon Digital Holdings, though none match MicroStrategy’s scale or commitment. Tesla actually sold most of its bitcoin holdings in 2022, while MicroStrategy has never sold a single coin despite multiple opportunities during previous market peaks.
Wall Street analysts remain split on MicroStrategy’s approach, with some viewing it as innovative corporate treasury management while others see it as reckless speculation. Goldman Sachs recently upgraded the stock to “buy” citing bitcoin’s institutional adoption trends, but JPMorgan analysts have repeatedly warned about the company’s extreme volatility correlation with crypto markets. The firm’s beta coefficient versus bitcoin now sits above 2.0, meaning MicroStrategy stock typically moves twice as much as bitcoin in either direction. Credit rating agencies have also taken notice – Moody’s downgraded MicroStrategy’s debt rating last year specifically due to cryptocurrency concentration risk.
Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.
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