Strategy Expands Bitcoin Holdings with $168.4 Million Purchase

Strategy has significantly increased its Bitcoin holdings by acquiring an additional 2,486 BTC for approximately $168.4 million between February 9 and February 16, 2026. This latest purchase brings the company’s total Bitcoin treasury to 717,131 BTC, as disclosed in a Form 8-K filed with the US Securities and Exchange Commission on February 17, 2026. The acquisition reflects Strategy’s ongoing strategy of holding Bitcoin as a core treasury reserve asset.

The company reported that the average cost per Bitcoin for this purchase was about $67,710, which includes all fees and expenses. As of February 16, 2026, the total acquisition cost of Strategy’s Bitcoin holdings reached around $54.52 billion, leading to an average cost basis of approximately $76,027 per BTC. Given the current trading price of Bitcoin, which was around $67,562 at the time of writing, this positions the company’s holdings at an unrealized loss of approximately $6.1 billion.

Financing the Purchase Through Equity Sales

To finance this purchase, Strategy utilized proceeds from at-the-market sales of its securities. During the acquisition window, the company sold 660,000 shares of its Class A common stock (MSTR), generating about $90.5 million in net proceeds after commissions. Additionally, it sold 785,354 shares of its variable-rate perpetual preferred stock (STRC), which produced around $78.4 million in net proceeds. The total notional value for the sales during this period was reported at $169.0 million, closely aligning with the Bitcoin expenditure.

The STRC stock is described by Strategy as a perpetual preferred stock with a variable dividend rate that adjusts monthly, with dividends paid in cash. This capital structure allows Strategy to continuously expand its Bitcoin holdings while maintaining liquidity.

Strategic Model for Bitcoin Accumulation

Strategy’s commitment to accumulating Bitcoin is underpinned by its innovative use of equity and preferred stock issuance. The company is publicly listed on the NASDAQ Global Select Market, where it actively trades its securities, including MSTR and various preferred series such as STRC.

To enhance transparency, Strategy directs investors to its website dashboard, which provides real-time data on Bitcoin purchases, holdings, and market prices for outstanding securities. This initiative is part of Strategy’s compliance with Regulation FD, ensuring that all investors have equal access to material information.

With the latest purchase, Strategy continues to position itself as a significant player in the cryptocurrency market. The company’s aggressive accumulation strategy underscores its belief in Bitcoin’s long-term value as a treasury reserve asset.