Michael Saylor’s Strategy, the largest publicly traded holder of Bitcoin, reported additional BTC purchases during a volatile week in which prices briefly slid below $75,000. According to a filing with the US Securities and Exchange Commission on Monday, the company bought 855 Bitcoin for $75.3 million.

The purchases were executed at an average price of $87,974 per coin. During the same period, Bitcoin opened the week above $87,700, climbed toward $90,000, and then dropped sharply below $75,000 on Sunday, based on CoinGecko data.

Following the transaction, Strategy’s total Bitcoin holdings increased to 713,502 BTC. The company has spent approximately $54.26 billion to accumulate this position, with an average purchase price of $76,052 per Bitcoin. The recent decline briefly pushed Bitcoin below Strategy’s overall cost basis, marking the first time this has occurred since late 2023.

Bitcoin has traded below Strategy’s cost basis before

This is not the first instance in which Bitcoin has fallen under Strategy’s average acquisition price. After the firm adopted its Bitcoin-focused treasury approach in August 2020, the asset dropped below its average cost for the first time in May 2022, when Bitcoin fell under $30,000 while Strategy’s average purchase price stood near $30,600.

That downturn led the company to significantly slow its accumulation, resulting in just 8,109 BTC purchased throughout 2022. Bitcoin remained below Strategy’s cost basis until late August 2023, with another short-lived dip afterward. During that below-cost period, the firm completed seven purchases totaling 28,560 BTC, representing roughly 22% of its total holdings at the start of that phase.

Market bets still favor continued accumulation

Despite increased bearish sentiment following the recent sell-off, prediction market participants remain confident in Strategy’s long-term accumulation trend. On Polymarket, the probability of Bitcoin falling below $65,000 this year rose to 72% on Monday. At the same time, traders assigned an 81% chance that Strategy’s Bitcoin holdings will exceed 800,000 BTC by the end of 2026.

Reaching that level would require the company to acquire at least 87,000 additional Bitcoin over the remainder of the period. Strategy founder Michael Saylor has previously expressed a long-term bullish outlook, predicting last year that Bitcoin could reach $21 million per coin by 2046.

Sources:

https://polymarket.com/event/will-microstrategy-announce-holding-800k-btc-by-december-31-2026

https://cointelegraph.com/news/saylor-strategy-buys-75m-btc-dip-below-75k

https://www.coingecko.com/en/coins/bitcoin

https://saylortracker.com/?tab=charts

https://www.strategy.com/purchases