Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), has reiterated that the company will continue purchasing Bitcoin “forever,” despite reporting more than $5 billion in unrealized losses from prior BTC acquisitions.
Over the past week, Strategy deployed an additional $90 million to acquire Bitcoin during an 8% market pullback. The purchase added 1,142 BTC to its balance sheet, bringing total holdings to approximately 714,644 BTC — currently valued at around $49 billion based on market prices.
However, with Bitcoin trading near $68,829, Strategy’s aggregate holdings are presently about $5.1 billion below the company’s average acquisition cost. The most recent purchase was executed at an average price of roughly $78,815 per BTC, meaning the latest tranche is also temporarily underwater, with a current market value of approximately $79.3 million versus the $90 million spent.
“We Will Not Sell”
In a recent interview with CNBC, Saylor dismissed concerns about volatility and reaffirmed the company’s long-term conviction.
“We will not sell. We will buy Bitcoin. I expect we will buy Bitcoin every quarter, forever.”
Bitcoin is currently down roughly 45% from its all-time high of $126,080 recorded in October. The drawdown has sparked renewed debate over whether Strategy — which controls an estimated 3.4% of Bitcoin’s total supply — could face pressure to liquidate assets to service debt or pay dividends.
Saylor rejected those concerns, calling them “unfounded.” According to him, the company maintains sufficient liquidity to cover debt obligations and dividend payments for approximately 2.5 years.
In December, Strategy announced the creation of a $1.44 billion USD Reserve designed specifically to support dividend payments without selling Bitcoin. The company has also strengthened its cash position through additional common stock issuances.
Risk Management and Extreme Scenarios
Addressing worst-case scenarios, Saylor stated that even in the event of a severe market downturn, the company has contingency plans in place.
“If Bitcoin drops 90% over the next four years, we would refinance our debt and extend maturities,” he said. “At $68,000 today, the price would need to fall to around $8,000 before we would even consider such measures — and even then, refinancing remains an option.”
He also dismissed the possibility of Bitcoin going to zero, emphasizing that the company’s strategy is based on long-term conviction rather than short-term price action.
Market Sentiment Remains Cautious
On prediction platform Myriad, traders currently estimate roughly a 28% probability that Strategy will sell Bitcoin before the end of 2026 — down 7 percentage points from the previous week as Bitcoin rebounded from lows near $60,000.
Meanwhile, Strategy’s stock (MSTR), often described by Saylor as “leveraged Bitcoin exposure,” fell approximately 2.7% in Tuesday’s trading session and is down nearly 66% over the past six months. Shares are currently trading around $134.58.
A High-Conviction Treasury Model
Strategy remains the largest corporate holder of Bitcoin globally, positioning its balance sheet as a long-term BTC treasury vehicle. The company continues to frame its approach not as short-term speculation, but as a structural shift toward Bitcoin as a primary reserve asset.
Whether this high-conviction strategy proves visionary or risky will ultimately depend on Bitcoin’s long-term trajectory — but for now, Saylor’s message is clear: accumulation continues, regardless of volatility.
This article is for informational purposes only and reflects a market overview. It is not financial advice. Investors should conduct their own research and assess risk before making any investment decisions.
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