Strategy Buys More Bitcoin as $50 Billion BTC Stash Remains Underwater

In brief

• Publicly traded Bitcoin treasury firm Strategy spent $90 million to purchase 1,142 Bitcoin last week.
• The company now holds nearly $50 billion in Bitcoin, but its holdings are worth less than the firm spent on them.
• Bitcoin is down over 23% over the last month, recently trading near $69,000.

Strategy, the world’s largest Bitcoin treasury company, announced Monday that it bought even more BTC last week even as its nearly $50 billion stash remains underwater following last week’s crypto market plunge. The firm purchased an additional 1,142 Bitcoin last week, currently valued around $79.3 million worth—though that purchase has already lost value. Strategy purchased the coins for approximately $90 million in total, with a cost basis of $78,815 per coin. Bitcoin was recently trading at $69,193, per data from CoinGecko. Strategy—formerly MicroStrategy—sold $89.5 million worth of Class A Common Shares (MSTR) to fund the purchase, and issued no preferred shares during the week. 

Now the company holds 714,644 BTC, or about 3.4% of the entire possible Bitcoin supply, currently valued at about $49.6 billion. But the firm spent more than that to acquire the coins, given a current cost basis of $76,056 per coin, giving the firm a roughly $4.8 billion unrealized loss on its holdings. Bitcoin’s recent price decline pushed Strategy’s holdings underwater, as the price of the top crypto asset has declined dramatically from an all-time high mark above $126,000 set back in October. The price of Bitcoin dipped to nearly $60,000 last week, but even with the partial rebound, BTC still shows a more than 23% plunge over the last 30 days. Strategy shares (MSTR) are down about 1.25% on the day, as of this writing, at a current price just above $133. Shares fell to an 18-month low price of $104 last week as Bitcoin plunged, but began rebounding Friday as crypto prices started to recover. Last Thursday, following that dip, Strategy reported a $12.4 billion loss for Q4 2025 following Bitcoin’s gradual price decline since its October peak. Strategy co-founder and Executive Chairman Michael Saylor remained bullish in his comments, despite the loss and the recently depleting value of both its Bitcoin holdings and stock price.

“Strategy has built a digital fortress anchored by 713,502 Bitcoin, and our shift to digital credit, which aligns with our indefinite Bitcoin horizon," he said Thursday. Users on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—see a nearly 28% chance that the firm sells some of its Bitcoin holdings by the end of the year.