MicroStrategy Doubles Down: $75 Million Bitcoin Purchase Amid Market Turmoil Signals Unwavering Conviction

In a bold move underscoring its long-term crypto strategy, business intelligence firm MicroStrategy Inc. has purchased an additional 855 Bitcoin (BTC) for approximately $75.3 million. The acquisition, executed at an average price of $87,974 per BTC, was disclosed in a regulatory filing dated February 2, 2026.

The purchase brings MicroStrategy's total Bitcoin holdings to a staggering 713,502 BTC, valued at over $54 billion at its aggregate acquisition cost. The company's average purchase price stands at about $76,052 per Bitcoin, positioning its treasury well below current market prices even after a recent sector-wide sell-off.

This latest buy was funded through proceeds from MicroStrategy's "at-the-market" (ATM) equity offering program. Between January 26 and February 1, the company sold roughly 673,527 shares of its Class A common stock, raising net proceeds of approximately $106.1 million specifically earmarked for Bitcoin acquisition.

Analysis & Context: MicroStrategy's consistent accumulation strategy, initiated by executive chairman Michael Saylor in 2020, has transformed the company into a de facto Bitcoin proxy for institutional investors. The timing of this purchase is particularly notable, coming amid a period of significant leverage unwinding and price declines across digital asset markets. Analysts view this disciplined buying—through both rallies and drawdowns—as a high-conviction bet on Bitcoin's eventual role as a cornerstone of global digital finance. The company's approach, converting equity capital into Bitcoin on its balance sheet, remains a unique and closely watched corporate treasury experiment.

Market Reaction & Commentary:

David Chen, Portfolio Manager at Horizon Digital Assets Fund: "This isn't just another purchase; it's a statement. MicroStrategy is using market weakness to methodically increase its position. Their average cost basis remains a strong moat, and this reinforces their thesis that Bitcoin is the primary long-term treasury reserve asset on their balance sheet."

Rebecca Vance, Chief Economist at FinTech Insights Weekly: "While the scale is impressive, it's crucial to remember the inherent risks. This strategy effectively makes MicroStrategy's stock a leveraged bet on Bitcoin's price. Shareholder value is now inextricably linked to crypto market volatility, which introduces significant equity risk not typical for a software company."

Marcus Thorne, independent crypto analyst (@Crypto_Skeptic): "This is financial alchemy, plain and simple. They're diluting shareholders to buy a volatile asset that just crashed 20% in a week. Saylor is doubling down on a dogma, not a strategy. Calling this 'corporate treasury' is a joke—it's a speculative punt funded by stock sales."

Priya Sharma, Blockchain Lead at Stanford Business School: "Regardless of one's view on Bitcoin, this is a landmark case study in corporate finance. MicroStrategy is challenging decades of conventional treasury management. Whether it's visionary or reckless will only be clear in hindsight, but it's undoubtedly changing how executives think about balance sheet assets."

Editor's Note: A separate release of documents by the U.S. Department of Justice on January 31 included a 2010 email referencing Michael Saylor in connection with a charitable event. MicroStrategy's press team did not respond to a request for comment on the reference prior to publication. The company's latest filing focuses solely on its treasury strategy.