Strategy announces $40M BTC purchase in latest leg of accumulation streak

Strategy extended its buying streak this week, though with only 592 $BTC. The latest filing also showed that Strategy again relied on MSTR for its weekly purchase.

Strategy acquired another 592 $BTC, at an average price of $67,286. The company did not break its weekly streak, but rather proceeded with a smaller acquisition. The treasury company remains underwater on a significant part of its holdings, but remains defiant against the headwinds.

The latest purchases of Strategy lowered the average $BTC acquisition price to $76,020.

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 $STRChttps://t.co/6XmsDaiO5f

— Strategy (@Strategy) February 23, 2026

For Strategy, 2026 started off slower compared to the peak accumulation in 2025. The company faces another bear market, along with a debt burden and common stock dilution.

Strategy uses MSTR again

Strategy used MSTR for its latest fundraise, selling 297,940 shares for $39.7M. Strategy retains $7.8B in available liquidity through common stock, and over $20B in $STRK shares.

However, issuing preferred shares or dividend shares is an extra weight on Strategy. The company has barely used its $STRK facility, and other higher-priority preferred shares have not been issued recently.

In the past week, Strategy had potential proceeds from STRC sufficient for 1,158 $BTC, but the company returned to MSTR issuance.

MSTR held to $131.05, bouncing off the year’s lows at $106. Short open interest is at 10.3% of the MSTR float, but there has not been a short squeeze or failures to deliver in the new year. MSTR has established a support price above $100, despite the recent $BTC dip under $65,000.

MSTR held at $131.05, still logging heavy losses in 2026, as Strategy was affected by some of the worst months of the crypto market. | Source: Google Finance

MSTR is still expected to make a dramatic recovery, bringing additional demand at the current price range.

Treasury companies sit on reserves

Treasury companies are neither buying nor selling, as some have acquired $BTC at a lower price. The only non-playbook company to add 600 $BTC is Hyperscale Data. The smallest treasury is now just 108 $BTC to enter the top 100 of corporate holders.

Treasuries by themselves no longer work to boost company stocks, and the only remaining expectation is an eventual $BTC rally to a higher range.

Miners like Bitdeer have sold their entire treasuries, built more as a legacy and reserve to be used in the future. Strategy, on the other hand, aims to retain its $BTC, expecting its value to climb in the future.

The Executive Chairman of Strategy, Michael Saylor has tried to calm the market, stating he expected a relatively short crypto winter. Despite this, Saylor has also mentioned that Strategy can survive a scenario of a much deeper $BTC crash.

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