Michael Saylor’s Strategy, the premier institutional holder of Bitcoin, continued its accumulation spree last week, adding nearly $90 million worth of the asset to its massive treasury. Notably, the firm executed these buys at prices significantly higher than the local bottom reached during the recent market flush.
Breaking Down the Trade
According to a Monday filing with the SEC, Strategy acquired 1,142 BTC at an average price of $78,815. This entry point stands in sharp contrast to the market’s volatility last Thursday, when Bitcoin briefly plummeted to a low of $60,000 on Coinbase.
The State of the Treasury:
- Total Holdings: 714,644 BTC.
- Total Investment: ~$54.35 billion.
- Lifetime Average Entry: $76,056 per coin.
- Recent Momentum: The latest purchase price of ~$78.8k actually sits above the company’s long-term average, meaning the firm did not “average down” during this specific tranche.
Market Context and Sentiment
Strategy’s decision to buy at $78,815 while the market struggled to maintain the $72,000 level raised eyebrows among traders. Historically, the firm has slowed its pace when prices fall below its average cost basis—a scenario reminiscent of the 2022 bear market.
On social media, observers jokingly speculated that Saylor might ignore the “dips” entirely, with some mocking the firm’s tendency to buy regardless of short-term price action. Despite the “paper losses” on this specific batch, the company’s stock (MSTR) showed resilience, rebounding 26% to close at $135 on Friday after hitting a low of $107 during the Thursday crash.
