In a remarkable move, Michael Saylor’s company, known for its strategic investments, has acquired an impressive 17,994 Bitcoins. This acquisition marks their largest since January, with the transaction valued at a staggering $1.28 billion. Each Bitcoin was purchased at an average price of $70,946, which is notably less than the company’s cumulative average purchase price. This acquisition has bolstered the firm’s Bitcoin holdings to a substantial 738,731 coins, with an acquisition cost of $56 billion.
A New Direction in Bitcoin Accumulation?
Demonstrating a significant shift in strategy, the company has made its most substantial Bitcoin purchase of the year, exceeding their January acquisition of 22,305 Bitcoins for $2.13 billion. For the first time, the firm is acquiring large quantities of Bitcoin at prices below its average cost basis. Previously, during market downturns, the company was more reserved, making smaller additions to its portfolio.
From February, the company has strategically increased its holdings with 25,229 Bitcoins acquired below its average cost, effectively reducing the cost basis from $76,052 to $75,985. This methodical approach signifies a long-term strategy aimed at stabilizing costs over time.
Are Market Forces a Growing Concern?
Bitcoin’s valuation, having reached heights of $126,000 in October 2025, saw a dramatic decline of approximately 47% by early 2026. Recent fluctuations between $63,000 and $72,000 have also put pressure on the company’s stock price, which nosedived from $543 in November 2024 to around $125 by February’s close.
In late 2025, new accounting mandates required the company to report holdings at fair market value, resulting in a $12.4 billion net loss. This volatility continues to influence the company’s financial outlook and market perceptions.
Questions about the firm’s Bitcoin-focused business model have been raised by economist Peter Schiff, especially as current market capitalization lingers 20–25% below the value of its Bitcoin reserves. Analyst Ted Pillows has noted the stark contrast to previous years when share prices soared above net assets.
– The firm raised over $21 billion in 2025 through stock and bond sales.
– Its ’42/42 Plan’ aims for $84 billion in capital by 2027.
– Cash reserves are intended to sustain up to 21 months of dividend and interest payments.
Although Michael Saylor has stepped down as CEO, he continues to champion the company’s vision.
“Bitcoin’s long-term value against global currencies remains a foundational belief,”
he stated. Despite recent purchases being under the average cost, Saylor remains resolute in his commitment to their acquisition strategy.
