In a move that continues to define corporate crypto adoption, MicroStrategy (now referred to as Strategy) has added another significant chunk to its Bitcoin holdings.
On February 17, 2026, the company announced the purchase of 2,486 Bitcoin for approximately $168.4 million, at an average price of about $67,710 per coin.
This latest acquisition pushes MicroStrategy’s total Bitcoin stash to 717,131 BTC, acquired at an overall average cost of roughly $76,027 per
Bitcoin.
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The firm has invested a cumulative $54.52 billion in the digital asset since pivoting to this strategy in 2020. The purchase comes at a time when Bitcoin is trading well below its 2025 highs, resulting in an estimated $6 billion in unrealized losses on the company’s balance sheet.
The company’s executive officer and chairman Michael Saylor has long framed this continuous acquisition of Bitcoin approach, as a superior long-term store-of-value play compared to holding fiat currencies or traditional assets.
By buying the dips, MicroStrategy effectively lowers its average acquisition cost while removing more BTC from circulation, reinforcing Saylor’s vision of Bitcoin as “digital gold” and a hedge against inflation and monetary debasement. The announcement sparked polarized reactions across the crypto community.
Proponents hailed it as a bullish signal of relentless institutional accumulation, with some pointing to low odds (around 12% on Polymarket) of any meaningful sales in 2026. However, skeptics see it as a high-risk bet amid persistent volatility and broader market pressures. Prominent gold advocate and longtime Bitcoin critic Peter Schiff was quick to weigh in on the purchase.
In a direct reply to Saylor’s announcement on X, Schiff offered sarcastic congratulations before delivering his sharp warning.
He wrote,
“Congratulations, you finally averaged your price down. The good news is that you’ll likely keep averaging down as Bitcoin continues to fall. The bad news is that your total loss on your entire position will keep increasing the more you buy.”
Schiff’s commentary echoes his consistent bearish stance on Bitcoin, which he views as a speculative asset lacking intrinsic value. He has repeatedly argued that MicroStrategy’s strategy often described as “averaging down” by buying more during price declines amplifies losses if Bitcoin fails to recover strongly.
In prior posts and interviews throughout 2026, Schiff has questioned the sustainability of the firm’s debt-financed buying spree, suggesting that a deeper crash (potentially to levels like $10,000 or even $8,000) could force painful outcomes, including inability to refinance debt or massive dilution for shareholders.
He has also contrasted Bitcoin’s performance with gold, claiming MicroStrategy would have fared better holding precious metals instead. Despite the criticism, MicroStrategy shows no signs of slowing its accumulation.
CEO Saylor has signaled confidence that its balance-sheet can withstand an extreme 88% drop in Bitcoin’s price without threatening its long-term position. The bold stance reinforces the firm’s reputation as the most committed corporate holder of the digital asset, doubling down on a high conviction bet that volatility is temporary, but adoption is permanent.
Saylor has publicly stated the company plans to continue buying Bitcoin quarterly “forever,” treating volatility as an opportunity rather than a risk.
This aggressive treasury approach has turned the Strategy into one of the largest corporate Bitcoin holders globally, though it has also tied its stock performance ($MSTR) closely to BTC price movements with amplified downside during bear phases due to leverage.
As the price of Bitcoin continue to consolidate between the $67,000 – $68,000 zone amid bearish sentiment, MicroStrategy’s continuous acquisition of the crypto asset remains a litmus test for corporate adoption of digital assets.