Strategy bought 855 BTC at $87,974 as Bitcoin fell below $78,000, drawing criticism from Peter Schiff over the timing of the purchase.
Bitcoin dropped below $78,000 during a volatile trading period as Strategy completed another large purchase.
The timing of the buy attracted criticism from economist Peter Schiff, who openly mocked the decision after prices fell further. His comments came as market pressure also weighed on Strategy’s stock.
Strategy Buys 855 BTC Near Short-Term Highs
Strategy disclosed in an SEC filing that it acquired 855 Bitcoin between January 26 and February 1.
The company spent about $75.3 million, paying an average price of $87,974 per Bitcoin during that period. The purchase was completed before Bitcoin’s sharp weekend decline.
Following the transaction, Strategy’s total Bitcoin holdings increased to 713,502 BTC. The company reported a total purchase cost of $54.26 billion across all acquisitions.
Its average price per Bitcoin now stands at $76,052.
The filing also showed that Strategy funded the purchase through equity sales.
The company sold 673,527 MSTR shares and generated net proceeds of about $106.1 million. No debt financing was reported for this transaction.
Bitcoin Slides Below $78,000 After the Filing
Bitcoin declined sharply over the weekend and briefly traded near $75,000. This marked the first time since October 2023 that the asset traded below Strategy’s overall average purchase price.
The drop followed broader market weakness and reduced risk appetite.
At the time of writing, Bitcoin had recovered modestly and was trading around $78,000.
However, the price remained well below Strategy’s latest weekly purchase average. This price gap became a key focus for critics.
The decline pushed Strategy into an unrealized loss estimated at about $900 million.
The company did not report any Bitcoin sales or adjustments to its long-term holding strategy during the price drop.
Schiff Mocks the Timing of the Bitcoin Purchase
Peter Schiff publicly criticized Strategy’s decision soon after Bitcoin’s fall.
He noted that the company bought Bitcoin just under $88,000, only for prices to drop below $75,000 days later. He described the move as buying near a local top.
Schiff also pointed out that Bitcoin remained more than $10,000 below Strategy’s weekly average buy price.
He questioned why the firm did not wait for lower prices before committing capital. His remarks were shared widely on social media.
The criticism followed Michael Saylor’s usual disclosure pattern. One day before the filing, Saylor posted a Bitcoin portfolio tracker image with the caption, “More Orange,” signaling another purchase.
Related Reading: Why Strategy Can Hold Bitcoin at $76K While Others Feel the Heat
Market Reaction and Investor Positioning
Strategy’s stock declined alongside Bitcoin’s pullback. Premarket data showed MSTR trading near $139, down from $150 at the previous week’s close.
The stock has continued to track Bitcoin price movements closely.
Prediction market data from Polymarket showed a 29% chance that Strategy would sell any Bitcoin by year-end.
The odds suggested limited expectations of near-term liquidation despite the losses.
Strategy has now completed six consecutive weekly Bitcoin purchases since late 2025.
During this period, the company acquired over 22,000 BTC, maintaining its accumulation strategy despite market criticism.
Source: https://www.livebitcoinnews.com/critic-schiff-mocks-saylors-855-btc-purchase-as-bitcoin-slips-below-78k/
