Strategy (MSTR) continues to buy in on Bitcoin’s low period, recently accumulating another $264 million in BTC. The Michael Saylor-established firm now holds 712,647 BTC valued at approximately $63 billion. With Bitcoin’s slow start to 2026, Strategy has taken advantage of the lower prices, anticipating that the leading digital asset will inevitably spark back above $100,000.
Strategy (MSTR) stock has been very closely tied to the BTC price for the last two years. The company holds about 3.4% of Bitcoin’s total 21 million supply. However, thanks to the BTC slip from $120,000 to $89, Strategy has crashed over 60% in the last six months. Presently, the stock is testing the critical $160 support level that’s held since December. After collapsing 65% from July’s $473 peak to December’s $160.41 low, MSTR has spent over a month consolidating in the $160-180 range, forming what appears to be a triple-bottom pattern around the $160 support box.
Furthermore, analysts express concerns regarding MicroStrategy’s sustainability as its Bitcoin accumulation strategy increases reliance on capital markets, potentially eroding shareholder value. The stock is trading near the bottom of its 52-week moving average, and may only rebound should Bitcoin do the same in the coming weeks.
If MSTR stock continues to fall while Bitcoin remains stagnant, the market may begin to price in “liquidation risk.” For this to become a reality, Bitcoin would likely need to stay below the company’s average cost of roughly $76,000 for a sustained period while the stock trades at a significant discount to its BTC holdings. As of now, investors haven’t been keen on MSTR, with the shares hanging onto $160 by a thread.