Bitcoin is now trading below Strategy’s average purchase price — the world’s largest corporate treasury position is now underwater overall.
Facts: Strategy holds 849,327 BTC at an average purchase price of $75,451 per coin (SEC filing on Nov. 2, approximately $64.08 billion in total). On Nov. 8, BTC fell below that level — BBX recorded $74,863 on the morning of Nov. 9 — and this morning BTC is still around $74,857. That’s about $500 million in unrealized losses. Their most recent purchase, 811 BTC at an average price of $80,846, is now about $6,000 below its purchase price per coin.
My take: this isn’t about Strategy being forced to sell — there’s no contractual trigger at this level, and management has already made that clear. What matters is the signal: the company has already sold about $431.8 million worth of BTC throughout 2026 to pay preferred dividends and buy back shares, and an MSCI index review is looming. If BTC doesn’t get back above $75,451 soon, their room to maneuver will get tighter.
What I’m watching: Strategy’s weekly 8-K filing, scheduled for today, and whether BTC manages to reclaim $75,451 — or instead retests the flush low of $73,436.
What do you think: is $75,451 just a psychological number, or a turning point for institutional sentiment?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Strategy $BTC
Facts: Strategy holds 849,327 BTC at an average purchase price of $75,451 per coin (SEC filing on Nov. 2, approximately $64.08 billion in total). On Nov. 8, BTC fell below that level — BBX recorded $74,863 on the morning of Nov. 9 — and this morning BTC is still around $74,857. That’s about $500 million in unrealized losses. Their most recent purchase, 811 BTC at an average price of $80,846, is now about $6,000 below its purchase price per coin.
My take: this isn’t about Strategy being forced to sell — there’s no contractual trigger at this level, and management has already made that clear. What matters is the signal: the company has already sold about $431.8 million worth of BTC throughout 2026 to pay preferred dividends and buy back shares, and an MSCI index review is looming. If BTC doesn’t get back above $75,451 soon, their room to maneuver will get tighter.
What I’m watching: Strategy’s weekly 8-K filing, scheduled for today, and whether BTC manages to reclaim $75,451 — or instead retests the flush low of $73,436.
What do you think: is $75,451 just a psychological number, or a turning point for institutional sentiment?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Strategy $BTC