Strategy records its 100th BTC purchase, expanding Bitcoin treasury holdings while markets remain volatile, reinforcing term conviction despite unrealized valuation pressure.
Strategy expanded its Bitcoin treasury after announcing another significant digital asset purchase. The move was the company’s 100th Bitcoin acquisition since it adopted a strategy to adopt the Bitcoin currency in 2020.
Strategy Confirms Milestone Bitcoin Treasury Expansion
According to a filing filed with the US Securities and Exchange Commission, Strategy acquired 592 Bitcoin. Additionally, the purchase was about $39.8 million at an average cost of close to $67,286. It is noteworthy that fees and transaction costs were incorporated into the reported value of the acquisition.
Strategy has acquired 592 BTC for ~$39.8 million at ~$67,286 per bitcoin. As of 2/22/2026, we hodl 717,722 $BTC acquired for ~$54.56 billion at ~$76,020 per bitcoin. $MSTR $STRChttps://t.co/6XmsDaiO5f
— Strategy (@Strategy) February 23, 2026
As a result of these events, the total number of Bitcoins in Strategy’s possession rose to 717,722 BTC as of 2/22/2026. Furthermore, the company revealed an aggregate purchase value of about $54.56 billion in total. Meanwhile, Strategy’s calculated average cost basis is close to $76,020 per Bitcoin acquired.
In addition to that, the latest Bitcoin purchase was financed through Strategy’s active at the market program. Specifically, Strategy dealt 297,940 shares of its Class A common stock for capital purposes.
However, the announcement came during increased volatility in all global cryptocurrency trading markets. Recently, the price of Bitcoin fell below $65,000, affecting the valuation metrics of big holders. As a result, Strategy’s holdings registered an unrealized paper loss vs. averages.
Nevertheless, Executive Chairman Michael Saylor reiterated Strategy’s long-term commitment to Bitcoin publicly. He stressed the accumulation of discipline despite price cycles and temporary valuation fluctuations. Moreover, management presented Bitcoin as a strategic reserve asset and not as a speculative asset.
Meanwhile, investors are still keeping an eye on Strategy’s balance sheet exposure to the continued price fluctuations of Bitcoin. In addition, market participants measure risks related to leverage, liquidity, and earnings stability.
Market Reaction Highlights Bitcoin Treasury Risks
Following the disclosure, Strategy’s stock was traded in a cautious manner and as part of broader weakness in the technology sector. Furthermore, Bitcoin’s short-term downturn increased the concerns about unrealized balance sheet pressures. However, supporters point out that long-horizon strategies offer less sensitivity to short-term market downturns.
Consequently, the Bitcoin-centric model of Strategy’s treasury model continues to attract strong support and criticism. Additionally, critics point to earnings volatility when asset prices vary from acquisition averages.
Importantly, Strategy is still one of the biggest corporate Bitcoin holders in global public markets. Furthermore, treasury disclosures keep informing investor debate on digital asset balance sheet strategies. Therefore, whenever an announcement of acquisition is made, it gets the attention of equity and cryptocurrency traders from all over the world.
However, the price fluctuations of Bitcoin continue to impact the quarterly reporting outcomes and financial stability measure. Additionally, accounting treatment differences for realized and unrealized losses make the interpretation by investors cumbersome.
Furthermore, the proponents point to historical cycles of recovery after sharp corrections in cryptocurrency markets. However, critics note that prolonged downturns can put greater pressure on leveraged balance sheet positions.
Ultimately, Strategy’s recent acquisition affirms its belief along with its challenging market circumstances to pursue an active treasury policy. Meanwhile, investors will keep an eye on the trends and earnings of Bitcoin for better performance signals in the future.
