MicroStrategy Buys 855 BTC ($75.3M) as Bitcoin Falls Below Company Cost Basis

Published: 2026-02-02 14:31:11 |

MicroStrategy bought 855 BTC last week for about $75.3 million, filing with the SEC shows. The company paid an average of $87,974 per coin, bringing total holdings to 713,502 BTC acquired for roughly $54.26 billion and an aggregate cost basis near $76,052/BTC. The purchase occurred as Bitcoin briefly dipped below $75,000 — under MicroStrategy’s overall cost basis — the first time BTC traded below the firm’s average purchase price since late 2023. The earlier report noted that market sell‑offs had reduced MicroStrategy’s unrealized gains substantially, and volatility briefly placed the company’s BTC position near or in the red. Historical behavior shows MicroStrategy slowed purchases when BTC traded below its cost basis in 2022–2023. Market betting platform Polymarket assigns an ~81% probability that MicroStrategy will reach 800,000 BTC by end‑2026, which would require roughly 87,000 more BTC acquired. Key data for traders: 855 BTC bought; $75.3M total; $87,974 average price for this trade; 713,502 BTC total holdings; $76,052 overall average cost. Primary keywords: MicroStrategy, BTC, Bitcoin purchase, cost basis, SEC filing.

Neutral

MicroStrategy’s incremental purchase of 855 BTC is market‑relevant but small relative to overall Bitcoin supply and the company’s existing holdings (713,502 BTC). The trade signals ongoing corporate accumulation and conviction in BTC as a reserve asset, which is mildly bullish in sentiment terms. However, the fact the buy occurred while BTC dipped below MicroStrategy’s average cost — and that the firm’s unrealized gains have materially declined amid recent sell‑offs — increases perceived risk and short‑term volatility. For traders: short‑term impact is likely limited and volatility‑driven (neutral to mixed), since 855 BTC is unlikely to move market prices materially, but the narrative of corporate buying at lower levels could support bids during dips. Long‑term, continued accumulation by a high‑profile corporate holder supports a constructive supply‑demand story for BTC (modestly bullish). Overall, the immediate price impact should be neutral, while the news maintains a mildly bullish structural signal if accumulation continues.