Michael Saylor’s Strategy, the world’s largest publicly traded Bitcoin holder, has added another major purchase to its balance sheet, acquiring $90 million worth of Bitcoin even as prices traded below the company’s average cost basis.
According to a filing with the US Securities and Exchange Commission on Monday, Strategy purchased 1,142 BTC last week at an average price of $78,815 per coin. This move came despite Bitcoin spending most of the week well below that level and briefly dipping to $60,000 on Coinbase last Thursday.
The latest acquisition brings Strategy’s total Bitcoin holdings to 714,644 BTC, acquired for approximately $54.35 billion. The company’s overall average purchase price now stands at $76,056 per Bitcoin.
Strategy Buys Bitcoin Without Lowering Its Cost Basis
By purchasing Bitcoin near $79,000, Strategy avoided reducing its average cost basis, even though the market offered lower prices for much of the week. Bitcoin fell below $78,000 last Tuesday and has since struggled to reclaim the $72,000 level, according to Coinbase data.
This marks the second time Strategy has bought Bitcoin while the asset was trading below its average acquisition price. A similar scenario occurred in 2022 when Bitcoin dropped under $30,000 while Strategy’s average cost hovered around $30,600.
At that time, the company slowed its aggressive accumulation strategy but continued making smaller Bitcoin purchases throughout the downturn, signaling a long-term conviction rather than short-term price optimization.
Market Reactions and Speculation Around Saylor’s Timing
Ahead of the purchase, some market participants speculated that Strategy might avoid buying Bitcoin below its cost basis this cycle to minimize the appearance of unrealized losses. Others joked that Michael Saylor would instead announce a purchase at much higher prices.
One market observer quipped on X that Saylor might reveal another buy at $95,000 per Bitcoin, highlighting the perception that Strategy prioritizes long-term accumulation over precise market timing.
Strategy’s stock (MSTR) has continued to mirror Bitcoin’s volatility. Shares fell to around $107 last Thursday before rebounding sharply alongside a broader crypto market recovery. By Friday, the stock surged roughly 26%, closing near $135, according to TradingView data.
