Michael Saylor’s Strategy (MSTR) adds 1,142 Bitcoin despite market volatility

Bitcoin treasury company Strategy (formerly MicroStrategy) has added to its already sizable cryptocurrency holdings, acquiring an additional 1,142 Bitcoin for approximately $90 million, according to a regulatory filing released on Monday.

In an 8-K filing with the Securities and Exchange Commission, Strategy said the purchases were made between February 2 and February 8 at an average price of $78,815 per Bitcoin.

The acquisitions came during a period of heightened volatility in the cryptocurrency market, following a sharp sell-off earlier in the month.

With the latest purchase, Strategy now holds a total of 714,644 bitcoin. Based on current market prices, those holdings are worth roughly $49 Billion.

At current prices, the position implies unrealised losses of about $5.2 billion following the recent downturn.

The scale of Strategy’s holdings represents more than 3.4% of Bitcoin’s maximum supply of 21 million coins.

Michael Saylor had signalled the latest acquisition ahead of time. On Sunday, he posted an update to Strategy’s Bitcoin acquisition tracker, writing, “Orange Dots Matter,” a phrase he has previously used to hint at fresh purchases.

The disclosure follows a similar announcement last Monday, when Strategy said it had acquired 855 bitcoin for approximately $75 million at an average price of $87,974 per coin.

That purchase lifted total holdings at the time to 713,502 bitcoin.

Losses mount amid Bitcoin pullback

The additional buying comes against the backdrop of significant financial volatility for Strategy.

The company reported a loss of over $12 billion last week, as the decline in Bitcoin prices erased tens of billions of dollars in value from its balance sheet.

The result marked one of the largest quarterly losses ever recorded by a US public company.

During the subsequent earnings call, Strategy Chief Executive Officer Phong Le addressed concerns around the firm’s debt profile.

Le said Bitcoin would need to fall to $8,000 and remain at that level for five to six years before it would pose a meaningful risk to the company’s ability to service its convertible debt.

Broader market remains fragile

Bitcoin was trading near $70,000 at the time of writing on Monday, as the broader cryptocurrency market attempted to stabilise after last week’s turbulence. Prices have rebounded from a low near $60,000, but trading conditions remain unsettled.

Activity across other major digital assets has been muted. Ethereum has been holding support around $2,000, while XRP has remained above $1.40, though both continue to trade under pressure.

The total cryptocurrency market capitalisation has declined by about 10% over the past seven days to roughly $2.36 trillion.

While that level is higher than the lows seen late last week, price action has struggled to build sustained momentum.

Market sentiment indicators have reflected the recent stress. A widely followed sentiment index fell to extremely low readings over the weekend before recovering modestly by Monday, still indicating elevated caution among investors.

Bitcoin’s price action has also shown signs of resistance near the $71,000 level, with supply emerging from holders looking to exit positions on rebounds.

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