TL;DR
- BTC Accumulation: Strategy added 855 BTC during a volatile week, maintaining its buying streak while BTC traded near its $76,052 average price, and market sentiment remained fearful.
- Stock Pressure: MSTR slid to $143.19 due to dilution and reduced demand tied to BTC weakness, with investors concerned about long‑term downside risk and Strategy’s history of issuing new shares.
- Dividend Strain: Strategy raised $106M from MSTR sales, boosted STRC’s dividend to 11.4%, and continues to owe high rates on SATA and STRD, though preferred share supply has not expanded recently.
Strategy’s latest Bitcoin purchase arrived during one of the market’s most turbulent stretches in recent weeks, with liquidations and sharp price drops testing investor confidence. The company added 855 BTC, extending its buying streak while signaling that it remains committed to holding despite carrying an unrealized loss. The move marked a more modest accumulation pace compared to earlier periods, yet it still drew attention due to the heightened volatility surrounding BTC.
Strategy has acquired 855 BTC for ~$75.3 million at ~$87,974 per bitcoin. As of 2/1/2026, we hodl 713,502 $BTC acquired for ~$54.26 billion at ~$76,052 per bitcoin. $MSTR $STRC https://t.co/x4BXtpl6UD
— Strategy (@Strategy) February 2, 2026
Market Turbulence and Slowing Accumulation
The company’s average acquisition price of $76,052 created tension after BTC briefly touched $75,000 before recovering to $77,000. Despite the rebound, market sentiment remained rooted in extreme fear. The latest purchase followed two weeks in which Strategy deployed more than $1B into BTC, a pace that slowed to 2,932 BTC the previous week. With BTC trading near Strategy’s average price, the new additions highlighted the growing unrealized losses from recent bullish months.
MSTR reflected the broader uncertainty, dipping to $143.19, just above its 52‑week low of $139.36. The stock faced pressure from ongoing dilution and reduced demand tied to BTC market risk. Although MSTR is designed to amplify BTC movements, the drop to $75,000 discouraged investors. Strategy’s long history of dilution, spanning 2,000 days, added to concerns, even as some maximalists continued buying in hopes of a recovery.
Dilution, Capital Raises, and Insolvency Concerns
Last week’s capital raise came entirely from MSTR, with 673,527 shares sold for $106M. Strategy allocated around $75M of that toward BTC purchases, keeping the remainder for obligations. The reliance on MSTR issuance for liquidity fueled renewed warnings of potential insolvency. The company also shifted part of its raises toward preferred shares, particularly STRC, which offers a regular dividend to offset price declines.
STRC reached an 11.4% dividend rate, though issuance only occurs when the price sits between $99 and $100. The recent dip to $98.96 limited availability, weakening demand for what was intended to be Strategy’s new flywheel. Meanwhile, the company owes 13% on SATA and 13.9% on STRD, though neither preferred stock has expanded supply in months.
