MSTR Stock Drops as Strategy Buys 592 Bitcoin for $39.8M

TLDR

• Strategy completed its 100th Bitcoin purchase with a 592 BTC acquisition worth about $39.8 million.
• The company increased its total Bitcoin holdings to 717,722 BTC after the latest buy.
• Strategy funded the purchase through the market sales of its Class A common stock.
• The firm reported an average purchase price of $67,286 per Bitcoin for the latest tranche.
• MSTR stock traded lower in pre-market hours following the SEC filing disclosure.

Strategy confirmed its 100th Bitcoin acquisition in a new SEC filing on February 23, 2026. The company purchased 592 Bitcoin for about $39.8 million between February 17 and February 22. The disclosure arrives as MSTR stock trades lower and Bitcoin hovers near $66,000.

Strategy Expands Bitcoin Holdings With 592 BTC Purchase

Strategy reported that it paid an average of $67,286 per Bitcoin, including fees and expenses. The purchase increased total holdings to 717,722 Bitcoin.

The company funded the acquisition through at-the-market sales of Class A common stock. During the same week, it sold 297,940 shares for about $39.7 million and used the proceeds for the purchase.

Strategy stated that about $7.8 billion in shares remain available under the program. The company has used this mechanism for prior Bitcoin purchases.

One week earlier, Strategy disclosed the purchase of 2,486 Bitcoin for about $168 million. That transaction carried an average price of $67,710 per coin.

With the latest addition, Strategy reported total acquisition costs of about $54.56 billion. The company’s average purchase price across all holdings stands at $76,020 per Bitcoin.

At market prices near $66,000, the position reflects an unrealized loss based on reported averages. The gap equals roughly $10,000 per coin, or about $7 billion overall.

Michael Saylor, co-founder and executive chairman, previewed the milestone on social media. He wrote “The Orange Century” before the company released the filing.

Strategy began accumulating Bitcoin in August 2020 and has reported each transaction. The filings list purchase dates, amounts, and average prices.

MSTR Stock Reaction and Market Context

MSTR stock traded lower in pre-market hours following the disclosure. Shares have declined more than 50% year over year.

Strategy Inc, MSTR

Bitcoin fell below $65,000 before recovering toward $66,000. The drop triggered over $360 million in leveraged liquidations across crypto markets.

Strategy stated that its holdings represent more than 3.4% of Bitcoin’s 21 million supply cap. The concentration places the company among the largest corporate holders.

Industry data lists 193 public companies that hold Bitcoin on their balance sheets. The group includes miners, exchanges, and firms with treasury allocation programs.

Saylor recently described the current phase as a “crypto winter.” He said it appears milder than prior cycles and may prove shorter.

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