- Strategy added 2,486 BTC for roughly $168M at about $67,710 per coin
- Total holdings hit 717,131 BTC, over 3% of all Bitcoin in circulation
- The purchase was funded entirely through an at-the-market equity program
Strategy, the business intelligence firm that has effectively turned Bitcoin into its primary treasury asset, added another 2,486 BTC to its reserves last week. The purchase cost roughly $168 million, with an average price of $67,710 per coin. It’s another reminder that the company isn’t treating BTC like a trade, it’s treating it like a long-term balance sheet anchor.
Executive Chairman Michael Saylor confirmed the acquisition and revealed that Strategy’s total Bitcoin holdings have now reached 717,131 BTC. That’s an enormous position by any standard, and it continues to grow even as the market debates whether institutional demand is slowing. Strategy is clearly operating on a different timeline than most.
Strategy Now Holds Over 3% of All Bitcoin in Circulation
With 717,131 BTC under its control, Strategy now holds more than 3% of all Bitcoin in circulation. That statistic is becoming harder for the crypto market to ignore, because it quietly changes the supply picture. When a single corporate entity accumulates BTC at this scale and publicly commits to holding it, those coins become effectively illiquid for long stretches of time.
The company has spent about $54.5 billion building this position so far, with an average purchase price of roughly $76,027 per coin. That average cost basis is also part of why the conversation around Strategy is so polarizing. Some see it as a high-conviction bet on the future of crypto. Others see it as a corporate leverage machine that only works when Bitcoin keeps trending higher.
The Entire BTC Purchase Was Funded Through Equity Sales
According to a new SEC filing, Strategy financed the entire purchase through the net proceeds of its at-the-market equity offering program. Between February 9 and February 16, 2026, the firm raised around $169 million by selling 660,000 shares of Class A common stock and 785,354 shares of Variable Rate Series A Perpetual Stretch Preferred Stock.
This matters because it highlights the company’s ongoing playbook. Strategy isn’t funding Bitcoin buys through operating cash flow in the traditional sense. It’s raising capital in public markets and converting it directly into BTC, using equity issuance as the pipeline. In a strong market, that approach looks brilliant. In a weak market, it can look like dilution dressed up as conviction.
Saylor Says Strategy Has No Plans to Sell Its Bitcoin
Company leadership has repeatedly stated it has no intention of selling any of its Bitcoin holdings. Each purchase is framed as a permanent addition to the balance sheet, not something meant to be rotated out later. That long-term stance is a big part of why Strategy continues to be treated as a proxy for corporate Bitcoin adoption.
Whether critics like it or not, this is becoming one of the clearest examples of how institutions can tighten crypto supply without using ETFs or custody products. Strategy keeps buying, keeps holding, and keeps turning public market demand into Bitcoin scarcity. And that dynamic is starting to feel less like a headline, and more like a structural force.
