Michael Saylor's company, Strategy, continues to make headlines with its aggressive Bitcoin acquisition strategy, recently executing another substantial purchase despite prevailing market pressures. This latest move has not only reaffirmed the company's unwavering long-term belief in the digital asset but has also reignited a fierce debate among financial experts regarding the prudence and future viability of such a concentrated investment approach.
Strategy's Bold Bet Amidst Market Downturn
In early February 2026, Strategy demonstrated strong confidence in Bitcoin by acquiring an additional 1,142 BTC for approximately $90 million, at an average price of $78,815 per coin. This significant purchase brought their total holdings to an impressive 714,644 BTC, now representing nearly 3.4% of Bitcoin's total supply. Notably, this expansion occurred during a period of considerable market instability, with Bitcoin's price having recently dipped to around $68,999. For Saylor, however, this dip was not a cause for alarm but rather a strategic opportunity to buy at a discount, reinforcing his view that any price below $100,000 represents a strong long-term entry point.
The Battle of Narratives: Saylor vs. Schiff
This latest acquisition has, predictably, drawn sharp criticism from long-time Bitcoin skeptic Peter Schiff. Schiff vehemently challenged Strategy's decision, particularly the average purchase price of $78,815, noting that Bitcoin was trading significantly lower during the week and at the time of the announcement (around $68,500). He argued that buying at a higher price than their previous average of $76,056 unnecessarily increases overall risk. Schiff has consistently warned that Strategy's business model is inherently misleading, designed to overpay for Bitcoin to maintain investor interest, and he predicts eventual bankruptcy due to the firm's heavy reliance on the volatile asset and current unrealized losses of about 3% on its $54 billion investment. While Saylor views Bitcoin through a long-term institutional lens, Schiff evaluates it with the skepticism of a short-term trader.
Corporate Bitcoin Investing at a Crossroads
Following the announcement, Strategy's stock (MSTR) saw a modest short-term gain of 3.51% to $138.44. However, this positive movement contrasts sharply with its broader performance, as the stock has plummeted by over 260% in the past six months, highlighting significant financial strain. The firm's substantial unrealized losses underscore the high-stakes nature of its Bitcoin-centric strategy. The coming months will be crucial for Strategy; should it navigate this period of price volatility and high average costs without major damage, it could inspire other corporations to adopt similar Bitcoin investment strategies. Conversely, if the pressures prove too great, Strategy's journey could serve as a cautionary tale for corporate Bitcoin investing for years to come, shaping future perceptions of digital assets in institutional portfolios.
