Strategy buys Bitcoin at a greatly overvalued price!

As bitcoin fell sharply to $60,000, Michael Saylor surprised the entire market. His company Strategy invested $90 million to buy 1,142 BTC at a price well above market price. This choice, far from being trivial, raises questions about the accumulation strategy of one of the largest BTC holders in the world. Why buy so high in a falling market? And what consequences for investors and the dynamics of the sector?

A massive purchase above the market

The Strategy company, led by Michael Saylor, made a substantial new acquisition of bitcoin at a time when the market was experiencing a strong correction.

In a filing to the SECthe company says it purchased 1,142 BTC for around $90 million. This buyback comes as the price of bitcoin had briefly plunged to $60,000 on Coinbase, a notable low compared to the levels reached a few weeks earlier. Despite this bearish context, Strategy paid its BTC at an average price of $78,815, almost 30% above the low point observed during the fall.

This new purchase adds to an already impressive portfolio. Strategy now holds 714,644 BTC for an overall acquisition cost of $54.35 billion, with a weighted average price of $76,056 per unit. This updated data confirms Strategy's leading position among public entities invested in bitcoin. Here is the key elements to remember about this operation:

• The number of BTC purchased: 1,142 units;
• The total amount invested: $90 million;
• The average purchase price for this operation: $78,815;
• Total BTC held by Strategy: 714,644 BTC;
• The overall average cost of acquisition: $76,056 per Bitcoin;
• The cumulative amount invested since the start: $54.35 billion.

Strategic continuity or calculated blindness?

Unlike 2022, a period during which Strategy slowed down its acquisitions when bitcoin fell below its average purchase price, this new intervention shows consistency in the accumulation philosophy.

At the time, BTC had plunged below $30,000 while Strategy's average cost was around $30,600. The firm then opted for a relative pause, still continuing one-off purchases, but at a much slower pace.

Despite BTC's underperformance over several days, and market speculation about a possible strategic withdrawal, the company intervened firmly. Observers even joked on X (formerly Twitter), imagining Saylor declaring: “we added 1,000 BTC at an average price of $95,000”highlighting the seemingly irrepressible nature of this purchasing strategy.

Strategy announced a net loss of $12.6 billion in the fourth quarter of 2025, a figure that reveals the limits of an aggressive accumulation strategy. If Michael Saylor's conviction remains intact, this news raises questions about the financial viability of such a positioning in the face of the persistent volatility of the crypto market.