Strategy Completes 100th Bitcoin Purchase, Holdings Top 717,000 BTC
Michael Saylor’s company, now operating under the name Strategy, has completed its 100th Bitcoin acquisition, reinforcing its status as the largest corporate holder of the digital asset.
Key Takeaways
- Strategy bought 592 BTC, marking its 100th Bitcoin purchase.
- Total holdings now exceed 717,000 BTC with an average cost near $76,000.
- The company remains committed to its long-term “buy every quarter” strategy despite current unrealized losses.
The milestone follows the company’s latest purchase of 592 BTC for roughly $39.8 million, at an average price near $67,286 per coin.
With the new addition, Strategy’s total Bitcoin holdings stand at more than 717,000 BTC, accumulated at an average cost of approximately $76,020 per coin. The firm has invested around $54.56 billion in total, building what Saylor frequently describes as a long-term treasury strategy rather than a short-term trade.
A Massive Bitcoin Treasury
Strategy has acquired 592 BTC for ~$39.8 million at ~$67,286 per bitcoin. As of 2/22/2026, we hodl 717,722 $BTC acquired for ~$54.56 billion at ~$76,020 per bitcoin. $MSTR $STRC https://t.co/jSQroB4LnE
— Michael Saylor (@saylor) February 23, 2026
At current market prices hovering in the mid-$60,000 range, Strategy’s Bitcoin reserves are valued at just under $50 billion. The holdings represent over 3% of Bitcoin’s total capped supply of 21 million coins – a concentration unmatched by any other public company.
Because the market price remains below the company’s average acquisition cost, Strategy is sitting on a sizable unrealized loss estimated between $5.7 billion and $6.7 billion. However, management continues to frame volatility as part of a multi-decade accumulation strategy.
Balance Sheet Strength in Focus
Despite price swings, the company maintains that its financial position remains solid. Total debt stands at roughly $8.2 billion, a fraction of the current market value of its Bitcoin holdings. According to company leadership, Bitcoin would need to collapse to around $8,000 and remain there for five to six years before repayment of convertible bonds would become a serious concern.
Strategy also aims to preserve strong liquidity, targeting approximately $2.25 billion in cash reserves to cover operational needs and dividend obligations without selling Bitcoin.
“Buy Forever” Strategy Continues
Saylor has repeatedly emphasized a simple mandate – accumulate Bitcoin consistently and indefinitely. The firm has stated it intends to continue buying every quarter, regardless of short-term price fluctuations.
The latest purchase comes during a volatile stretch for the market. Bitcoin briefly dipped below $65,000 before rebounding toward $66,000, while Strategy’s stock (MSTR) has mirrored crypto’s swings. Shares recently traded near $131, a steep decline from their 2024 peak above $470.
Still, the company’s conviction remains unchanged. By completing its 100th acquisition and pushing its holdings further above 717,000 BTC, Strategy is doubling down on one of the most aggressive treasury strategies in corporate history – a long-term bet that Bitcoin will ultimately outperform traditional reserve assets.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
