Strategy purchased 2,486 Bitcoin (BTC) for $168.4 million between February 9 and 16, funded entirely through equity sales amid sustained price weakness.
The company's holdings reached 717,131 BTC with a cumulative acquisition cost of $54.52 billion, representing an average purchase price of $76,027 per bitcoin.
With bitcoin trading near $68,000 as of February 17, Strategy's position carries approximately $5.7 billion in unrealized losses.
The purchase extends the company's accumulation strategy despite a $17.4 billion operating loss in the fourth quarter of 2025.
Equity-Funded Accumulation Continues
Strategy financed the latest purchase through its at-the-market equity offering programs, raising $169 million by selling 660,000 shares of Class A common stock and 785,354 shares of Variable Rate Series A Perpetual Stretch Preferred Stock.
The company now controls more than 3% of bitcoin's total circulating supply.
Executive Chairman Michael Saylor confirmed the acquisition Tuesday via social media, stating the firm continues to "hodl" its growing treasury position.
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Operating Loss and Share Dilution
Strategy reported a $17.4 billion operating loss and $12.4 billion net loss for the fourth quarter of 2025, driven primarily by bitcoin's fair value decline during the period.
Bitcoin fell from approximately $120,000 in early October to around $89,000 by year-end before dropping further to current levels.
The company maintains $7.88 billion in remaining capacity under its common stock authorization and $3.54 billion under STRC preferred stock offerings. Total outstanding shares have exceeded 312 million following persistent dilution through equity raises to fund bitcoin purchases.
MSTR shares fell more than 3% Tuesday, trading at levels roughly 68% below their 52-week high near $457. The stock declined 17% on February 5 following the Q4 earnings release as bitcoin crashed below $65,000.
Strategy continues acquiring bitcoin regardless of price, converting equity proceeds directly into the digital asset. The company has repeatedly stated it has no plans to sell any holdings.
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