While most of the financial world was busy recovering from the rough end of 2025 in early February, Michael Saylor was busy focusing on Bitcoin [BTC].
Just a day after his “Orange Dots Matter” tweet, his company, Strategy, once again showed strong confidence in Bitcoin.
On February 9, 2026, the company announced that it had purchased another 1,142 Bitcoins for about $90 million, with each coin costing an average of $78,815.
This purchase pushed the company’s total Bitcoin holdings to all around 714,644 BTC, which amounts to almost 3.4% of all Bitcoin that will ever exist.
The current market conditions are worrying
This latest Bitcoin purchase came at a time when the market was under severe pressure.
Together with the global market capitalization, that of Bitcoin the price had also dropped to around $68,999 afterward drop 1.55% in one day and almost 24% in the past month.
For Saylor, this fall was not a sign of danger, but an opportunity to buy at a discount. By paying $78,815 per BTC, Strategy showed that it believes any price below $100,000 is a great long-term buying opportunity.
However, not everyone agrees with this view, as Bitcoin critic Peter Schiff strongly disagreed with Saylor’s move.
Peter Schiff vs. Michael Saylor
Schiff responds to Saylor’s tweet said,
“Somehow you managed to buy for $78,815, slightly increasing your average cost, despite Bitcoin trading below $60,000 during the week and the current price being around $68,500.”
Schiff criticized this move, noting that buying 1,142 Bitcoins at an average price of $78,815, above the company’s previous average of $76,056, increased the overall risk.
He also highlighted the timing: With Bitcoin trading at almost $69,000, Strategy paid almost $10,000 more per coin. To him, this was a reflection of poor decision-making.
What’s more…
Peter Schiff has previously argued that the company’s business model may be misleading, claiming that it is deliberately overpaying for Bitcoin to maintain investor interest.
He warned that Strategy’s heavy reliance on Bitcoin is risky and that the predicted bankruptcy was inevitable. He noted that the company now faces an unrealized loss of about 3% on its $54 billion investment.
While Schiff views Bitcoin as a short-term trader on the one hand, Saylor, on the other hand, sees it as a long-term institution.
MSTR stock price and more
Meanwhile, on the price front, the stock (MSTR) rose to $138.44 following the announcement. win 3.51% in one day. But the bigger picture is showing signs of strain, as shares are down more than 260% in the past six months.
Furthermore, reports from The Kobeissi Letter show how serious the company’s losses are.
Ergo, if Strategy survives this massive drop without major damage, it could encourage other companies to follow the same path.
But if the pressure from falling prices and high average costs becomes too much, this could become a cautionary tale for business Bitcoin investing in the coming years.
Final thoughts
- Strategy’s latest purchase shows that the company sees falling prices as long-term opportunities, not warning signs.
- Short-term stock gains show some investor confidence, but long-term performance remains weak.