Michael Saylor's Strategy sees bitcoin trade below the purchase price of its holdings

By Steve Goldstein

Strategy now owns about 713,500 bitcoins after its latest purchase, which it acquired at an average price of $76,052 each

Michael Saylor's Strategy was briefly underwater on its bitcoin holdings.

The bitcoin holdings of Michael Saylor's Strategy were briefly underwater in a sign of the unwinding in cryptocurrency value this year.

Bitcoin (BTCUSD) traded below the average purchase price paid by the company previously known as MicroStrategy, though it's since recovered.

Strategy disclosed Monday that it bought 855 bitcoin in the week to Feb. 1, at an average price of $87,974. That brings Strategy's total holding to 713,502 bitcoins, which were purchased at an average price of $76,052.

Bitcoin had fallen below $76,000 overnight, before bouncing to be above $77,500 in recent trading.

Strategy shares (MSTR) dropped 6.4% in recent morning trading, which puts it on track for the lowest close since Sept. 18, 2024. The stock has tumbled 69% from its peak in July.

The move doesn't have immediate consequences, with only a fraction of its $8.2 billion in debt due to mature in 2027, according to FactSet. The company also says it has 30 months of dividend coverage.

Jim Bianco of Bianco Research meanwhile calculates that Strategy and the 11 top spot bitcoin ETFs such as the iShares Bitcoin Trust ETF IBIT have purchased their bitcoin at an average purchase price of $85,360.

Tomi Kilgore contributed.

-Steve Goldstein

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02-02-26 1011ET