Michael Saylor’s Strategy (MSTR), the dominant public holder of Bitcoin (BTC-USD), has disclosed a new purchase of the digital asset following a volatile weekend for the crypto markets. According to a Monday filing with the US Securities and Exchange Commission (SEC), the firm bought 855 Bitcoin for roughly $75.3 million. These acquisitions occurred at an average price of $87,974 per coin. While the week began with prices near $90,000, a sudden Sunday sell-off saw the leading cryptocurrency briefly plunge below the $75,000 mark, creating a rare window where the market price traded below Strategy’s total average cost.
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Strategy Increases Total Stash to 713,502 BTC
This latest buy brings the firm’s total reserves to 713,502 BTC. To build this massive position, the company has spent approximately $54.26 billion, resulting in an aggregate average purchase price of $76,052 per coin. Because the market price dipped to about $74,800 on Sunday, the company was technically underwater on its total holdings for a short period. This is a significant milestone, as it is the first time Bitcoin has traded below the company’s cost basis since the final months of 2023.
Market History Repeats after Two-Year Gap
This is not the first time Saylor’s company has seen its investment value dip below its entry price. After launching the Bitcoin Standard in August 2020, the firm first went underwater in May 2022 when the price fell below $30,000, just under its then-average cost of $30,600.
During that difficult period, the company significantly slowed its pace of acquisition, buying only 8,109 BTC throughout the rest of 2022. It took until August 2023 for the market price to consistently move back above the firm’s cost basis.
Polymarket Odds Favor an 800,000 BTC Target
Despite the recent price drop and a general cooling of market sentiment, many observers believe the accumulation will continue. On the prediction platform Polymarket, bettors currently give an 81% probability that Strategy’s total holdings will surpass 800,000 BTC by the end of 2026.
To hit that target, the company would need to acquire roughly 87,000 more coins over the next eleven months. While some traders are worried about a further slide toward $65,000, the high odds on Polymarket suggest a strong belief that Saylor will use any further “dips” to expand the treasury.
Saylor Reaffirms Long-Term Vision for 2046
The aggressive buying reflects the executive chairman’s extremely long-term outlook. Michael Saylor has previously stated that he views Bitcoin as a multi-decade asset rather than a short-term trade. In a presentation last year, Saylor predicted that Bitcoin could eventually reach a value of $21 million per coin by 2046. This persistent accumulation, even when prices hover near the firm’s average cost, signals to the market that the company remains unfazed by temporary paper losses or market capitulation events.
Is Strategy a Good Stock to Buy?
On TipRanks, Strategy stock (MSTR) has a Moderate Buy consensus rating based on nine Buys and two Holds. The average 12-month MSTR price target of $437.11 implies 199.68% upside potential from current levels.
