Strategy is closing in on its 100th Bitcoin purchase after buying $168.4 million worth of BTC in its latest weekly move.
Key Takeaways
- Strategy bought 2,486 BTC for $168.4 million, marking its eighth straight weekly Bitcoin purchase.
- The company now holds 717,131 BTC acquired for $54.52 billion, with an average cost of $76,027 per coin.
- Nearly half of the purchase was funded through sales of STRC preferred stock, with the rest raised through Class A common stock sales.
- The buy comes as investors debate quantum computing risk, while Strategy says it has launched a Bitcoin Security Program to address it.
What Happened?
Strategy, the company led by Bitcoin advocate Michael Saylor and formerly known as MicroStrategy, disclosed another large Bitcoin buy that keeps its weekly streak alive. A regulatory filing shows the firm purchased 2,486 Bitcoin between February 9 and February 16 for about $168.4 million.
The move puts Strategy one step closer to a milestone. It is now at its 99th Bitcoin purchase since adopting Bitcoin for treasury reserves in 2020.
Strategy has acquired 2,486 BTC for ~$168.4 million at ~$67,710 per bitcoin. As of 2/16/2026, we hodl 717,131 $BTC acquired for ~$54.52 billion at ~$76,027 per bitcoin. $MSTR $STRC https://t.co/wvxRYZlQ3Y
— Michael Saylor (@saylor) February 17, 2026
Strategy Adds 2,486 BTC in Latest Weekly Buy
According to the filing, Strategy paid an average of about $67,710 per Bitcoin for the latest batch. That is notably below the company’s overall average purchase price of $76,027, showing the firm is still adding even as the market remains choppy.
After this purchase, Strategy’s Bitcoin holdings rose to 717,131 BTC. The company says it acquired this total position for $54.52 billion.
Bitcoin has been trading below Strategy’s average cost basis. With Bitcoin around $68,000, the firm is sitting on a paper loss of roughly $8,000 per coin, which works out to about $5.7 billion across its full stack based on the figures in the filing.
Preferred Stock Plays a Bigger Role
One detail stood out in this week’s funding mix. Strategy financed a large chunk of the purchase using its preferred stock offering.
- $78.4 million came from at the market sales of its STRC preferred shares, which were sold at a discount to face value.
- $90.5 million came from sales of Class A common stock.
In share terms, the company sold 660,000 MSTR shares and 785,354 STRC shares, generating the net proceeds used for the Bitcoin buy.
That preferred stock contribution, roughly 46% of the total, was the highest proportion of Bitcoin funding from perpetual preferred stock since November, based on the reporting tied to the filing.
Stock Reaction and Market Context
The market did not reward the announcement.
MSTR shares fell in premarket trading after the disclosure, and separate trading data showed the stock around $128, down more than 4% from the prior close near $134. The stock is also down more than 16% year to date, and more than 60% year over year, based on the figures cited in the coverage.
The purchase also arrived as Bitcoin dipped below $67,000 during the same period, adding to the pressure on sentiment around crypto linked equities.
Quantum Computing Questions Enter the Conversation
This week’s reporting also highlighted a growing talking point among institutional investors, the potential long term risk that quantum computing could pose to Bitcoin’s security model.
Strategy addressed the subject during its latest earnings call, saying it has launched a Bitcoin Security Program focused on quantum computing threats. Saylor also suggested the issue remains years away, even as investors increasingly ask how major Bitcoin holders plan to prepare.
The company’s stance appears straightforward. Strategy is not pausing its accumulation plan, and it is positioning itself as aware of emerging risks while continuing to add to reserves.
CoinLaw’s Takeaway
I see this as Strategy staying true to its playbook even when the optics are messy. Bitcoin is below the company’s average cost, the stock is sliding, and yet the buying continues like clockwork. In my experience, that kind of consistency is exactly what long term conviction looks like, but it also makes Strategy a lightning rod for criticism when markets turn.
What really jumps out to me is the financing. Using preferred stock for nearly half the purchase tells me the company wants flexibility while still feeding the Bitcoin machine. I found the quantum talk interesting too. Institutions do not bring up threats like that unless they are stress testing big positions. Strategy is basically saying, we hear you, we are planning for it, and we are still buying.
