While bitcoin was falling sharply to 60,000 dollars, Michael Saylor surprised the entire market. His company Strategy invested 90 million dollars to buy 1,142 BTC at a price well above the market rate. This choice, far from trivial, raises questions about the accumulation strategy of one of the largest BTC holders in the world. Why buy so high in a declining market? And what are the consequences for investors and the sector’s dynamics?
The company Strategy, led by Michael Saylor, made a new substantial bitcoin acquisition at a time when the market was undergoing a strong correction.
In a filing submitted to the SEC, the company states it purchased 1,142 BTC for approximately 90 million dollars. This buyback comes as the bitcoin price briefly plunged to 60,000 dollars on Coinbase, a notable dip compared to the levels reached a few weeks earlier. Despite this bearish context, Strategy paid for its BTC at an average price of 78,815 dollars, about 30 % above the low point observed during the drop.
This new purchase enlarges an already impressive portfolio. Strategy now holds 714,644 BTC for a total acquisition cost of 54.35 billion dollars, with a weighted average price of 76,056 dollars per unit. These updated data confirm Strategy’s leadership position among public entities invested in bitcoin. Here are the key points to take away from this operation :
Unlike 2022, a period during which Strategy had slowed its acquisitions when bitcoin fell below its average purchase price, this new intervention shows consistency in the accumulation philosophy.
At the time, BTC had dropped below 30,000 dollars while Strategy’s average cost was around 30,600 dollars. The firm then opted for a relative pause, still pursuing occasional purchases but at a much slower pace.
Despite BTC’s underperformance over several days, and market speculation about a potential strategic withdrawal, the company intervened decisively. Some observers even joked on X (formerly Twitter), imagining Saylor declaring: “we added 1,000 BTC at an average price of 95,000 dollars”, highlighting the seemingly unstoppable nature of this buying strategy.
Strategy announced a net loss of $12.6 billion in Q4 2025, a figure revealing the limits of an aggressive accumulation strategy. While Michael Saylor’s conviction remains intact, this new reality raises questions about the financial viability of such a position in the face of the persistent volatility of the crypto market.
