Strategy | Crypto

Strategy (formerly MicroStrategy) has become the public market’s most widely traded Bitcoin proxy, using equity, convertible notes, and preferred stock to build a balance sheet dominated by the top crypto. However, as Bitcoin trades near $68,000 and Strategy shares hover below $130, investors are paying closer attention to the mechanisms that allow the company to […] The post Strategy can survive Bitcoin crashing to $8,000 – but can it escape the slow bleed of dilution? appeared first on CryptoSlate.

The buys lift Strategy holdings to 717,131 BTC and Bitmine to 4.37 million ETH, expanding corporate crypto treasuries despite continued market weakness. The two largest publicly traded crypto treasury companies expanded their digital asset holdings this week, with Strategy adding 2,486 Bitcoin and Bitmine Immersion Technologies buying 45,759 Ether, deploying about $260 million combined. Strategy said it spent $168.4 million on Bitcoin (BTC) purchases Feb. 9-16, bringing total holdings to 717,131 BTC. The acquisitions were funded through share sales under its at-the-market program, including 785,354 shares of STRC preferred stock for $78.4 million in net proceeds and 660,000 shares of Class A common stock for $90.5 million. As of Monday, Strategy reported an aggregate purchase price of $54.52 billion for its Bitcoin holdings, implying an average acquisition cost of $76,027 per BTC. The latest purchases were made at an average price of $67,710 apiece. Read more

Strategy reported its fourth-largest Bitcoin purchase of the year, a week after Michael Saylor's defense of the company's became a meme.

BTC price fell below the key $70,000 level as tensions between the US and Iran ramped up and a broad risk-asset sell-off liquidated late BTC long positions. Bitcoin (BTC) dipped below $67,000 at Tuesday’s Wall Street open as risk assets responded to new geopolitical pressures. Key points: Bitcoin joins stocks in a geopolitics-driven sell-off to the start the US TradFi trading week. Read more

The bank also holds a large put option position on Strategy, potentially capitalizing on the company trading above the value of its BTC holdings.

Strategy says it can withstand a bitcoin price drop to $8,000 and still cover its roughly $6 billion in net debt.

The world’s largest digital asset treasury plans to convert $6 billion in bond debt to equity, claiming that it could survive an 88% Bitcoin crash. Strategy founder Michael Saylor has revealed the firm plans to convert its $6 billion in bond debt into equity, a move that reduces debt on the balance sheet. “Strategy can withstand a drawdown in BTC price to $8,000 and still have sufficient assets to fully cover our debt,” stated the firm on X on Sunday, prompting Saylor’s response.  The Bitcoin (BTC) treasury company currently holds $49 billion in Bitcoin reserves with a stash of 714,644 BTC.  Read more

Bitcoin-buying firms delivered on demand last year, but they struggled to keep up with market leader Strategy for a fourth straight month.

Strategy CEO Phong Le says the company is moving away from issuing and selling common stock to buy Bitcoin and isn't interested in acquiring Bitcoin treasuries. Bitcoin treasury company Strategy will further lean on its preferred stock sales to acquire Bitcoin, shifting from its strategy of selling common stock, says CEO Phong Le. “We will start to transition from equity capital to preferred capital,” Le told Bloomberg’s “The Close” on Wednesday. Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%.  Read more

Michael Saylor’s Strategy missed Bitcoin’s brief drop to $60,000 last week, purchasing $90 million worth of BTC at an average price near $78,800. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, added another tranche of BTC last week, expanding its holdings without pushing its overall cost basis lower. Strategy acquired 1,142 Bitcoin (BTC) for $90 million last week, according to a US Securities and Exchange Commission filing on Monday. The acquisitions were made at an average price of $78,815 per BTC despite Bitcoin trading below that level for most of the week and briefly touching $60,000 on Coinbase last Thursday. Read more

Strategy’s Bitcoin reserves cover debt, and only a prolonged drop to $8,000 could possibly force restructuring.

Strategy (MSTR), BitMine (BMNR), and Coinbase (COIN) helped lead the crypto stock rebound as Bitcoin bounced back from a dip near $60K.

Strategy executives Phong Le and Andrew Kang say the company is on a strong financial footing despite it now being down 17.5% on its Bitcoin holdings. The Bitcoin buying company Strategy reported a net loss of $12.4 billion in the fourth quarter of 2025, driven down by Bitcoin’s 22% fall over the quarter. Bitcoin (BTC) reached a peak high of $126,000 in early October, but tumbled over the quarter ending Dec. 31 to under $88,500. Bitcoin is down 30% so far this year to $64,500, below Strategy’s average cost per BTC of $76,052. Strategy (MSTR) said on Thursday that, despite the loss, its Q4 revenues rose 1.9% year-on-year to $123 million, driven in part by its business intelligence arm. However, the recent Bitcoin sell-off saw its shares close 17% lower on Thursday to $107. Read more

Last year marked the second-worst annual performance since Strategy adopted its bitcoin treasury strategy.

Latest filings show Strategy bought 855 Bitcoin at about $88,000 each last week, as BTC briefly fell below its average cost for the first time since 2023. Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, disclosed fresh BTC purchases for the week as the prices briefly dropped below $75,000. Strategy acquired 855 Bitcoin (BTC) for $75.3 million last week, according to a US Securities and Exchange Commission filing on Monday. The acquisitions were made at an average price of $87,974 per BTC, with Bitcoin starting the week above $87,700 and reaching $90,000 before briefly plummeting below $75,000 on Sunday, according to CoinGecko. Read more

Bitcoin’s slide below $80,000 has pushed a significant portion of US spot BTC exchange-traded fund (ETF) buyers into $7 billion in paper losses. According to CryptoSlate's data, the world’s largest digital asset fell to as low as $74,609 over the weekend amid liquidity concerns and a risk-off tone in global markets. BTC has recovered to approximately $77,649 as […] The post Bitcoin triggers $7B loss for ETF holders as price could drop to $65,000 while Strategy (MSTR) sits on billion dollar cushion appeared first on CryptoSlate.

The latest crash came after US President Donald Trump nominated Kevin Warsh to replace Federal Reserve chair Jerome Powell, sending Bitcoin down to $75,892 late on Sunday. Strategy founder Michael Saylor has hinted his firm added to its Bitcoin holdings after the cryptocurrency slid more than 13% over the weekend, briefly pushing the company’s large BTC position into the red.  “More Orange,” the Strategy executive chairman posted to X on Sunday alongside a chart showing his firm’s $55 billion worth of Bitcoin purchases since August 2020. Saylor often posts the chart as a signal that his company has bought or plans to buy Bitcoin. It would mark Strategy’s fifth Bitcoin (BTC) purchase this year, with its largest coming on Jan. 20, when it bought 22,305 Bitcoin. Strategy is by far the largest Bitcoin treasury company, with over 712,647 Bitcoin under management Read more

Bitcoin saw a sudden weekend liquidity cascade that took BTC price to near $75,000 for the first time since its April 2025 low. Bitcoin (BTC) fell over 7% during weekend trading as a fresh price collapse liquidated $800 million. Key points: Bitcoin drops to near its 2025 low as mass liquidations accelerate. Read more

Leading crypto treasury firms BitMine and Strategy both saw their stocks plunge nearly 10% amid broader market uncertainty, as a possible U.S. government shutdown looms.

Strategy acquired $264 million of Bitcoin last week during a market pullback, boosting its holdings to more than 712,000 BTC, according to a Monday SEC filing. Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, disclosed fresh BTC purchases as prices slid during a broader market sell-off. Strategy acquired 2,932 Bitcoin (BTC) for $264.1 million last week, according to a US Securities and Exchange Commission filing on Monday. The acquisitions were made at an average price of $90,061 per BTC, with Bitcoin starting the week above $93,000 and briefly tumbling below $87,000, according to CoinGecko. Read more