Strategy added 1,142 Bitcoin last week at an average purchase price of $78,815, according to a statement cited in the report. The latest buy lifted the company’s total Bitcoin holdings to 714,644 BTC, with the position valued at more than $49 billion.
Growing Bitcoin stack comes with deeper paper losses
The company kept buying even as Bitcoin fell to its lowest level since 2024, increasing pressure on its balance sheet. Data compiled by Bitcoin Treasuries showed Strategy’s average cost per Bitcoin at more than $76,052. With Bitcoin trading near $69,000, the company was sitting on a loss of nearly 10% on that basis.
The report said Strategy’s unrealized losses had reached about $5 billion. In a company report released last week, operating loss rose to more than $17.4 billion as Bitcoin prices dropped, while net loss climbed to $12.4 billion. That trend could continue if BTC stays under pressure.
Share issuance remains central to the Bitcoin buying plan
Strategy has also continued to fund purchases through stock issuance, a move that has increased dilution for existing shareholders. The article said the company still has more than $7.9 billion in authorized shares available for additional Bitcoin purchases.
It also has more than $20 billion in available STRK preferred shares. As that financing strategy expanded, total outstanding shares climbed to more than 300 million, up from 77 million in 2021. That change in share count remains a major part of the MSTR debate.
Analysts keep targets elevated despite the losses
Wall Street firms have stayed positive on MSTR, largely because their thesis still depends on a rebound in Bitcoin. A Cantor Fitzgerald analyst maintained an overweight rating and set a price target of $192. BTIG set a target of $250, while Canaccord Genuity, Mizuho, and Truist Financial placed their targets at $185, $403, and $268.
Data compiled by MarketBeat showed a consensus Wall Street target of $347, which the report said was 176% above the current level. The article also pointed to the close link between MSTR and Bitcoin moves: on Friday, Strategy shares jumped nearly 30% as Bitcoin rose from $60,000 to above $70,000.