While many companies retreat during market downturns, MicroStrategy has once again demonstrated its unwavering commitment to bitcoin acquisition. The enterprise software firm turned bitcoin development company recently deployed $835.6 million to purchase 8,178 bitcoin—marking its most substantial weekly buying spree in months. This aggressive accumulation comes despite MicroStrategy’s own shares declining 56% from recent highs and bitcoin trading well below its record levels.
Strategic Financing Through Preferred Shares
MicroStrategy engineered an innovative funding approach for its latest bitcoin purchase, avoiding potential dilution of existing common shareholders. The company raised approximately $715 million through a new series of preferred shares designated “STRE” (Steam), specifically tailored for European investors. An additional $131.4 million was secured through the “STRC” (Stretch) series.
This financing structure addresses MicroStrategy’s current market valuation challenges. With common shares trading around $199, the company’s market capitalization hovers barely above the value of its bitcoin holdings. Issuing additional common stock would significantly dilute current investors—an outcome CEO Michael Saylor clearly sought to avoid. The preferred share alternative provided necessary capital while offering investors attractive yield opportunities.
Growing Bitcoin Treasury Reaches 649,870 BTC
With this latest acquisition, MicroStrategy’s bitcoin reserves have expanded to 649,870 BTC, valued at approximately $61 billion at current prices. The company’s average purchase price stands at $74,433 per bitcoin—substantially below the current market rate of approximately $94,500. This strategic accumulation has generated an unrealized gain of roughly $12.9 billion for 2025 alone.
Should investors sell immediately? Or is it worth buying Strategy?
Saylor remains steadfast in his conviction, recently reiterating in a CNBC interview his belief that bitcoin will ultimately outperform both gold and the S&P 500 over the long term. The company’s methodology appears unchanged: acquire, hold, and repeat.
Ambitious Targets Meet Market Reality
The sustainability of MicroStrategy’s aggressive accumulation strategy raises important questions. The company has maintained its full-year projections, forecasting $34 billion in operating results, $24 billion in net profit, and earnings of $80 per share—all predicated on bitcoin reaching $150,000 by year-end.
Current market conditions tell a different story, with bitcoin trading nearly 40% below this target threshold. Unless the cryptocurrency stages a significant rally, MicroStrategy shares may face continued pressure. Nevertheless, the company’s substantial recent purchases signal Saylor’s conviction that current levels represent an ideal buying opportunity precisely when others harbor doubts.
Ad
Strategy Stock: Buy or Sell?! New Strategy Analysis from February 7 delivers the answer:
The latest Strategy figures speak for themselves: Urgent action needed for Strategy investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from February 7.
Strategy: Buy or sell? Read more here...
