What Happened
Strategy has announced its 100th bitcoin purchase, acquiring 592 BTC for approximately $39.8 million, as reported in a Form 8-K filing with the U.S. Securities and Exchange Commission. This acquisition occurred between February 17th and February 22nd, 2026, at an average price of $67,286 per bitcoin. As of February 22, 2026, Strategy holds a total of 717,722 bitcoins, reflecting a cumulative investment of around $54.56 billion.
Why It Matters
The announcement comes at a time when the sentiment surrounding bitcoin is notably pessimistic. Bitcoin’s market cap has fallen to $1.3 trillion from its peak of $2.5 trillion on October 6, 2023. Analysts, including Timothy Misir from Blockhead Research Network, have indicated that the market is experiencing significant pain, with unrealized losses at the $67,000 level equating to 19% of the market cap. Additionally, bitcoin ETFs have faced substantial outflows, totaling $993 million in February alone, marking the longest period of outflows since February 2025.
What’s Next
As the market continues to grapple with these challenges, the focus will likely shift to how companies like Strategy navigate the current landscape. The firm has financed its recent bitcoin purchases through sales of Class A common stock under its at-the-market (ATM) offering program. Observers will be keen to see if this strategy will bolster confidence in bitcoin amidst ongoing volatility.
