Overview
- An SEC filing shows Strategy acquired 8,178 BTC between November 10 and 16 at an average price of $102,171, taking total holdings to 649,870 BTC bought for $48.37 billion at an average of $74,433 per coin.
- The buying drew on proceeds from preferred equity, including roughly $715 million raised earlier this month via euro‑denominated STRE and about $131.4 million from STRC during the reported week.
- Michael Saylor rejected reports of bitcoin sales, saying wallet movements were custodial and that the firm has been accelerating purchases.
- Public scrutiny intensified as Peter Schiff labeled the model a fraud and warned of a “death spiral,” while Arca’s Jeff Dorman and TD Cowen argued forced sales are unlikely given Saylor’s large ownership, lack of liquidation covenants, and debt maturities beginning in 2028.
- On-chain analysis from CryptoQuant indicates a material portion of the treasury is currently at a loss, estimating roughly 40% of holdings are in the red after the latest buys priced near $102,000 per BTC.