Strategy announces $40M BTC purchase in latest leg of accumulation streak

Strategy extended its buying streak this week, though with only 592 BTC. The latest filing also showed that Strategy again relied on MSTR for its weekly purchase. 

Strategy acquired another 592 BTC, at an average price of $67,286. The company did not break its weekly streak, but rather proceeded with a smaller acquisition. The treasury company remains underwater on a significant part of its holdings, but remains defiant against the headwinds. 

The latest purchases of Strategy lowered the average BTC acquisition price to $76,020. 

For Strategy, 2026 started off slower compared to the peak accumulation in 2025. The company faces another bear market, along with a debt burden and common stock dilution. 

Strategy uses MSTR again

Strategy used MSTR for its latest fundraise, selling 297,940 shares for $39.7M. Strategy retains $7.8B in available liquidity through common stock, and over $20B in STRK shares. 

However, issuing preferred shares or dividend shares is an extra weight on Strategy. The company has barely used its STRK facility, and other higher-priority preferred shares have not been issued recently. 

In the past week, Strategy had potential proceeds from STRC sufficient for 1,158 BTC, but the company returned to MSTR issuance. 

MSTR held to $131.05, bouncing off the year’s lows at $106. Short open interest is at 10.3% of the MSTR float, but there has not been a short squeeze or failures to deliver in the new year. MSTR has established a support price above $100, despite the recent BTC dip under $65,000. 

MSTR is still expected to make a dramatic recovery, bringing additional demand at the current price range. 

Treasury companies sit on reserves

Treasury companies are neither buying nor selling, as some have acquired BTC at a lower price. The only non-playbook company to add 600 BTC is Hyperscale Data. The smallest treasury is now just 108 BTC to enter the top 100 of corporate holders. 

Treasuries by themselves no longer work to boost company stocks, and the only remaining expectation is an eventual BTC rally to a higher range. 

Miners like Bitdeer have sold their entire treasuries, built more as a legacy and reserve to be used in the future. Strategy, on the other hand, aims to retain its BTC, expecting its value to climb in the future. 

The Executive Chairman of Strategy, Michael Saylor has tried to calm the market, stating he expected a relatively short crypto winter. Despite this, Saylor has also mentioned that Strategy can survive a scenario of a much deeper BTC crash.

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