Strategy Buys $22M More Bitcoin as Price Slides Below $110K

What This Suggests About MicroStrategy’s Strategy

Just when some might consider it a moment of caution, Strategy — the corporate kingpin in the Bitcoin investment arena — doubled down. As BTC dipped under $110,000 last week, the company quietly added 196 more coins, pushing its total holdings past 640,000 BTC. It’s a bold signal that, for some institutional actors, every correction is a shopping opportunity.

The Latest Move: Buying at the Dip

According to a recent SEC filing, Strategy purchased 196 BTC for approximately $22.1 million during the week ending Sunday. The average purchase price was $113,048 per coin, acquired as Bitcoin declined from just over $112,000 at the week’s start to under $110,000 by Thursday.

This latest acquisition brings the company’s total Bitcoin holdings to 640,031 BTC, purchased at a cumulative cost of roughly $47.35 billion. The average cost basis across their holdings now sits at around $73,983 per coin.

Though substantial in dollar terms, the latest purchase is modest by Strategy’s historical standards. The company has been slowing its pace of accumulation in recent months, perhaps as a response to market volatility or broader strategic recalibration.

What This Suggests About Strategy’s Approach

Strategy’s decision to keep accumulating Bitcoin during a market pullback highlights a long-term investment thesis. Rather than panicking during dips, the firm views them as buying opportunities. This is consistent with Executive Chairman Michael Saylor’s well-publicized philosophy of treating Bitcoin as digital property and a long-term store of value.

The relatively small size of the latest purchase suggests the company is managing its exposure more cautiously. Rather than making massive bets in volatile conditions, it appears to be scaling in carefully, possibly waiting for clearer upward momentum in the market.

Saylor and his team remain publicly bullish, citing growing institutional interest and macroeconomic trends that favor scarce digital assets like Bitcoin. The conviction seems to remain intact, even if the size and frequency of buys have become more measured.

The Market and Equity Side: A Rough Ride

While Strategy continues to build its crypto treasury, its stock has faced headwinds. Shares recently dropped to $300.70, the lowest level since April, reflecting broader concerns over both crypto market corrections and tech sector volatility.

Despite this recent decline, the stock has delivered outsized returns over longer timeframes. Over the past five years, Strategy shares are up nearly 2,000 percent. Even with recent losses, it remains about 96 percent higher than it was a year ago. This dual identity — part enterprise software company, part Bitcoin holding vehicle — makes it a uniquely volatile but potentially rewarding asset.

Risks, Rewards & What to Watch

Strategy’s concentrated Bitcoin position leaves it exposed to significant downside risk. If macroeconomic conditions worsen or regulatory crackdowns emerge, the firm’s balance sheet could take a hit. Furthermore, executing large BTC purchases at favorable prices becomes more difficult the deeper the company wades into the market.

There is also the matter of sentiment. Crypto markets are notoriously driven by narratives and investor emotion. Strategy’s high-profile status means that its actions can amplify market moves in either direction.

Looking ahead, investors will be watching whether Strategy continues its current pattern of measured accumulation or decides to pause. Much will also depend on how Bitcoin responds to upcoming macro catalysts, including interest rate decisions, inflation data, and regulatory developments. The performance of Strategy’s stock relative to Bitcoin itself will also be a key metric for evaluating the strategy’s effectiveness.

Would you like a projection on what their holdings could look like in six months at this pace?